Ripple CEO Brad Garlinghouse warned about harmful consequences to the crypto industry if the U.S. Securities and Exchange Commission (SEC) wins its lawsuit against him and his company over the sale of XRP in an interview with Bloomberg on Thursday.

“The SEC bringing the case against Ripple was not really just a case about Ripple or about XRP — It’s really about the industry,” Garlinghouse began. Asserting that the SEC is “playing offense and attacking” the entire crypto industry, the Ripple CEO stressed:

This is going to be pivotal for the whole industry.