Ripple CEO Shares SEC War Spurred Crypto Election Power Play in 60 Minutes Debut

Key Takeaways

• Ripple CEO Brad Garlinghouse becomes the first crypto executive to appear on the prime-time show 60 Minutes.
• Garlinghouse highlighted crypto’s influence on U.S. elections and Ripple’s partial legal victory against the SEC.
• XRP surged to a multi-year high of $2.90 following the interview and Ripple’s legal win.

In his debut appearance on 60 Minutes , Ripple CEO Brad Garlinghouse discussed the intersection of cryptocurrency, politics, and regulation, bringing crypto into the mainstream spotlight.

Ripple CEO Talks Crypto’s Role in Politics and Regulation

Garlinghouse emphasized crypto’s influence in shaping the 2024 U.S. general elections.

According to him, the crypto industry played a pivotal role by donating over $140 million to pro-crypto political action committees (PACs).

These contributions supported candidates advocating for clearer regulations, resulting in a significant win rate—85%—among the 62 candidates backed by the industry.

“Crypto firms did not ‘buy’ the election,” Garlinghouse said in response to host Margaret Brennan’s pointed question. “At the end of the day, voters decided. We educated voters, as many industries do, about candidates who understand the importance of emerging technologies.”

Garlinghouse also urged policymakers to adopt a more forward-thinking approach, stating, “All citizens should want leaders who embrace technologies that benefit society.”

Ripple’s Legal Battle With the SEC

Garlinghouse revisited Ripple’s four-year legal battle with the Securities and Exchange Commission (SEC), a defining chapter in the company’s history.

Ripple has spent over $150 million in legal fees to defend itself against the agency’s claims that XRP, Ripple’s native token, qualifies as a security.

The case took a critical turn when a New York federal judge ruled that XRP’s secondary sales to retail customers do not violate securities laws.

“I went to Harvard Business School. I think I’m reasonably intelligent about something like, what is a security? so never once had I considered the possibility — that, “Okay, maybe XRP is a security,” the Ripple chief said. 

Garlinghouse characterized the SEC’s approach under Gary Gensler as “regulation by enforcement,” criticizing the chair for creating a hostile environment for the crypto industry.

“If it weren’t for Gensler’s reckless approach, the FairShake super PAC wouldn’t even exist,” Garlinghouse said, referencing the PAC formed to support pro-crypto policies and candidates.

Garlinghouse also addressed misconceptions about Ripple’s operations.

He highlighted the company’s institutional partnerships and billions of dollars in cross-border transactions conducted through XRP, which he said are fully compliant with Know Your Customer (KYC) regulations.

CBS’ Misleading Reporting

Following the interview’s airing, Garlinghouse took to X  to accuse 60 Minutes of omitting critical details, particularly the federal court ruling in Ripple’s favor.

“I spoke with Margaret Brennan for over 90 minutes, but 60 Minutes shockingly left out that a federal judge ruled XRP is not a security,” Garlinghouse wrote. “Instead, they chose to air misleading comments from Gensler’s allies.”

Garlinghouse also criticized CBS’s dismissal of crypto’s utility, comparing it to early skepticism about the internet.

“Even JPMorgan is leveraging blockchain today,” he noted, adding that Ripple has revolutionized cross-border payments by making them faster and more cost-efficient than traditional systems.

XRP Price Surges Amid Ripple’s Legal and Media Spotlight

Ripple’s legal victory and Garlinghouse’s media appearance had a ripple effect on XRP’s market performance.

The token surged to a multi-year high of $2.90, marking a significant comeback after years of stagnation below $1.

While XRP has since settled at $2.35, the newfound momentum underscores growing investor confidence in Ripple’s prospects, especially as the company continues to push for regulatory clarity and mainstream adoption.