Ripple CEO: Gary Gensler's SEC enforcement action against the crypto industry gave rise to Fairshake

Odaily Planet Daily Report: Ripple Labs CEO Brad Garlinghouse recently discussed political action committees and their impact on the US presidential election. He stated that if US SEC Chairman Gary Gensler had not actively regulated cryptocurrencies, the major political action committee Fairshake, funded by the cryptocurrency industry, might not exist in the 2024 US election. He pointed out that Fairshake is a joint response to the "crypto war," as the SEC has significantly strengthened its regulatory crackdown during Gensler's tenure. The agency has filed over 120 lawsuits against cryptocurrency companies, including Ripple Labs, , , Coinbase, , and , on the grounds that these companies have violated securities laws. Garlinghouse said that the enforcement actions have created an unexpected unity within the cryptocurrency industry, leading to the creation of this PAC.