The Ripple CEO thinks regulators should make FTX-style scams harder
In a recent tweet, the CEO of Ripple, Brad Garlinghouse, expressed his agreement with the position taken by the CEO of the Crypto Council, Sheila Warren, regarding the regulation of cryptocurrencies.
Following the failure of the FTX cryptocurrency exchange, Elizabeth Warren said in a tweet that governing bodies should take steps to eliminate the incentives for “bad conduct.”
She goes on to say that authorities need to make it difficult to pull off such hoaxes in the first place, in addition to establishing responsibility for those who commit fraud.
According to an article that was published by U.Today, Garlinghouse was of the opinion that the FTX exchange was a fraudulent scam. He is of the opinion that the cryptocurrency market is still in its infancy, which is why it continues to attract dishonest individuals. The CEO at Ripple is optimistic about the future of cryptocurrency.
On Thursday, Mike Novogratz, the CEO of Galaxy Digital, said that Bankman-Fried ought to serve time in prison.
Despite this, Bankman-Fried asserts that client funds were not mixed with those of the trading business Alameda in any way, shape, or form. The disgraced founder of FTX is likewise under the impression that he does not have any legal responsibility.