U.S. Rep. Brad Sherman rejects FOX report, saying he never spoke to Gary Gensler about SEC victory against Ripple (XRP)


A member of the U.S. House of Representatives has decided to speak out on the allegations directed at him by the FOX station. He asserts that he never spoke to Gary Gensler about the SEC’s victory in the case against Ripple.

Gasparino vs. Sherman

One of FOX’s top journalists, Charles Gasparino, decided to share via Twitter information he had obtained. It concerned the high-profile Ripple vs. SEC court case. According to Gasparino, Congressman Brad Sherman contacted SEC Chairman Gary Gensler about it, showing after the fact a high degree of confidence that the SEC would win the battle. The comment touched a wide range of observers.

Meanwhile, Sherman decided to respond to the formulated allegation. He did so in these words:

“Fox Business is a bit wrong. I often talk to SEC Chairman Gary Gensler, sometimes about crypto, but never about XRP. The only conversation I’ve had with an SEC official about XRP was in the testimony of Director Gurbir Grewal.”

FOX Business reports

Charles Gasparino also took up the issue on the FOX Business Network. In doing so, he reported that in recent days Congressman Brad Sherman expressed confidence that the Securities and Exchange Commission would win its case against Ripple. According to the report presented, Sherman was expected to urge the SEC to expand the lawsuit to include cryptocurrency exchanges that allowed XRP trading on their platforms. 

This attitude of the congressman triggered a flurry of comments from Ripple supporters, who wanted to find out where Sherman got not only the information, but also similar beliefs.  

FOX journalist Eleanor Terrett connects the two aspects, explaining that it is likely, according to Sherman, that the fact that XRP has been delisted from the exchanges is due to the platform owners’ belief that the Securities and Exchange Commission, in this case, is right. This would mean, in his opinion, that the exchanges, despite knowing full well that XRP is a security, were not interested in abolishing trading in the coin. Hence, the lawsuit should be brought against them as well.

Wave of criticism

In the face of the above information, the cryptocurrency community has shown a lack of confidence in the congressman. The fact that he has repeatedly discussed crypto with Gensler, while he has hardly touched on Ripple (which is the most heated topic for the SEC), is surprising. 

Ripple CEO Brad Garlinghouse also expressed his words of disapproval. Sherman, he says, ignored his legal training, focusing on a political agenda instead of sound policy. In Garlinghouse’s view, the proposed lawsuit against the exchanges is ridiculous.

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

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