'Gensler Will Cause Biden To Lose The Election,' Ripple CEO Warns
Portfolio Pulse from Murtuza Merchant
Ripple CEO Brad Garlinghouse criticized SEC Chair Gary Gensler, claiming his actions could lead to President Biden's defeat in the upcoming election. This comes amid a prolonged legal battle between the SEC and Ripple over the classification of XRP as a security. Gensler also provided updates on the progress of spot Ethereum ETFs in the U.S.
June 26, 2024 | 3:39 pm
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NEGATIVE IMPACT
Ripple CEO Brad Garlinghouse's criticism of SEC Chair Gary Gensler and the ongoing legal battle over XRP's classification as a security could create volatility in XRP prices.
The ongoing legal battle and public criticism from Ripple's CEO could create uncertainty and volatility in XRP prices. Investors may react negatively to the perceived regulatory risks.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
SEC Chair Gary Gensler's update on the progress of spot Ethereum ETFs in the U.S. indicates that these products could be live by early July, potentially boosting Ethereum prices.
The approval and potential launch of spot Ethereum ETFs could increase demand for Ethereum, positively impacting its price. This development is seen as a positive regulatory step for the crypto market.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80