Ripple CEO Brad Garlinghouse thinks that deterrent measures should be taken so that events such as the collapse of FTX do not happen again.
Garlinghouse said he agreed with Crypto Council CEO Sheila Warren when it comes to regulations.
In his tweet, Warren stated that regulators should take deterrent measures after the collapse of FTX. He also underlined that it is necessary to increase accountability and prevent such frauds in the first place.
100% agreement with this @sheila_warren https://t.co/t23DPasOuW
— Brad Garlinghouse (@bgarlinghouse) December 2, 2022
Ripple CEO suggested that the FTX exchange works like a scam scheme. According to Garlinghouse, the cryptocurrency industry is still in its infancy, so it attracts scammers. He believes that such problems will go away once the crypto industry matures.
Galaxy Digital CEO Mike Novogratz said the other day that Sam Bankman-Fried, ex-CEO of FTX, was dreaming and should spend the rest of his days in prison.
Sam Bankman-Fried continued to deny allegations that client funds were transferred to Alameda. He even went further and stated that he did not think that he had any criminal responsibility for what happened.
