Ripple Co-Founder Chris Larsen Calls Gary Gensler the 'Worst Public Servant of All Time'

In the latest twist in the Ripple v SEC saga, Ripple's co-founder, Chris Larsen, offered a stinging comment of SEC Chair Gary Gensler

Ripple Labs’ key people and the Securities and Exchange Commission (SEC) continue to trade barbs in their legal battle over XRP.

In the latest development, Ripple co-founder Chris Larsen offered a stinging comment of SEC Chair Gary Gensler, saying that he's the “worst public servant of all time.”

Larsen commented on Gensler in a recent CNBC interview after highlighting the failed crypto policy in the country and his decision to support Kamala Harris' campaign.

While Larsen shared his distrust of Gensler and even the Federal Trade Commission’s Lina Khan, he didn't offer any specific answer on whether he agreed to remove Gensler from his position.

Ripple's beef with the SEC began in late 2020 when Larsen and Ripple's CEO Brad Garlinghouse were named as defendants in the SEC's lawsuit. The lawsuit alleges that the duo aided and abetted Ripple's alleged securities law violations.

In particular, the SEC alleges that Ripple sold an unregistered security offering. Ripple has countered that XRP should not be treated as a security, using the SEC director's previous comments to bolster their case.

By October 2023, the company filed for the dismissal of the charges. Garlinghouse commented that the agency was simply trying to "destroy" him personally.

However, in a July 2023 ruling, a judge found that while Ripple's sale of its token to institutional buyers violated existing securities laws, its programmatic sales to retail exchanges were not.

Nearly two months after the judge's verdict, the agency went ahead and filed an appeal. In its Form C filing, the agency shared that it will continue to pursue the Ripple execs.

After the SEC appeal, Ripple also filed a cross-appeal. The filing of Form C came a few days after the company executives stated that they would leave "nothing on the table" as part of its defense.

Many in the crypto industry initially saw a bright future ahead with Gensler at the helm. Gensler is tech-savvy, well-known in the academic circle and even handled a blockchain course at the Massachusetts Institute of Technology (MIT).

However, Gensler took a tough stance on crypto, starting with the agency's campaign against Binance and Coinbase.

In recent years, the SEC's campaign against Ripple has captured the industry's attention. Gensler's aggressive policies on crypto and Ripple have generated a lot of heated words.

Ripple's Garlinghouse has already called out Gensler for stifling crypto's progress and hit the agency for failing to stop the FTX collapse.