Ripple CEO: Regulators Should Make FTX-Style Scams More Difficult To Pull Off

Brad Garlinghouse, the CEO of Ripple, stated that he concurred with Sheila Warren, the CEO of the Crypto Council, on the regulation of cryptocurrencies.

Warren stated in a tweet that following the failure of the FTX bitcoin exchange, regulators should seek to discourage “bad behavior.” She continues by saying that regulators should make it difficult to execute such ruses in the first place

Garlinghouse asserted that the FTX exchange functioned as a scam. According to him, the fact that the cryptocurrency sector is still in its infancy is what keeps criminals drawn to it. The CEO of Ripple believes that cryptocurrency will develop.

Mike Novogratz, CEO of Galaxy Digital, stated on Thursday that Bankman-Fried needed to serve time in prison. Bankman-Fried, on the other hand, denies intentionally fusing customer funds with those of trading business Alameda. The disgraced FTX founder also disputes his criminal responsibility.

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