Ripple’s CEO Brad Garlinghouse has slammed SEC chairman Gary Gensler for not investigating bankrupt cryptocurrency exchange FTX before the fall of the crypto trading firm. 

Garlinghouse said it is ridiculously shameful for Gensler to claim the SEC’s enforcement action is the “cop on the beat” for crypto, yet he was caught off-guard when the FTX fraud happened. 

“It’s ridiculous and frankly shameful that Chair Gensler was touting the SEC’s enforcement actions as the “cop on the beat,” yet (per public reports) MET with SBF multiple times but was caught completely flat-footed when the alleged fraud finally came to light,” Garlinghouse said.