pointed out<\/a> accusations of insider trading. He claimed, \u201cRipple executives, including Garlinghouse, sold billions of XRP to retail investors while promoting positive predictions for the token.\u201d He likened these actions to \u201cclassic pump-and-dump schemes,\u201d indicating that these sales were strategically timed around Ripple’s promotions.<\/p>\nHe further criticized what he called \u201cfalse adoption claims,\u201d where Ripple purported that significant banks were using XRP. Swenson argued that these institutions primarily used RippleNet for payments rather than actively adopting XRP, describing this representation as \u201cmisleading at best, deceptive at worst.\u201d<\/p>\n
Swenson also addressed the narrative surrounding the SEC lawsuit, noting how Garlinghouse portrayed the regulatory action as politically motivated. He suggested that this tactic shifts responsibility, enlisting XRP holders to defend Ripple and obscuring the SEC’s allegations of selling unregistered securities. \u201cThe SEC sued Ripple for selling unregistered securities, and instead of taking accountability, Garlinghouse depicted it as a political attack to unite XRP holders,\u201d he articulated.<\/p>\n
Swenson critiqued Garlinghouse’s statements about XRP’s decentralization as well. He echoed Garlinghouse’s claims of decentralization but countered with the fact that \u201cRipple controls the majority of XRP\u2019s supply and can manipulate market conditions at will.\u201d According to Swenson, this ownership undermines true decentralization.<\/p>\n
Relatedly, he condemned what he perceived as a cycle of overpromising by Garlinghouse, stating that \u201che has spent years making ambitious predictions about XRP\u2019s future that never materialize,\u201d while \u201che and fellow insiders profit at the expense of retail investors.\u201d<\/p>\n
Swenson’s remarks follow significant news after President Donald Trump’s signing of the inaugural crypto executive order aimed at establishing a \u201cnational digital asset stockpile,\u201d positioning the US as a potential ‘crypto capital’. This has triggered discussions in the cryptocurrency sector regarding its implications for various digital currencies, including Bitcoin and XRP.<\/p>\n
In response to these developments, Garlinghouse has been active behind the scenes, lobbying for XRP’s inclusion in this strategic reserve. These lobbying efforts have raised eyebrows, leading to questions about his motives, with some critics accusing Garlinghouse and Ripple of exploiting their influence to advocate for XRP within governmental frameworks.<\/p>\n
Garlinghouse defended these moves by claiming that Ripple\u2019s lobbying efforts are consistent with the intentions of a Bitcoin-oriented reserve, aiming to create a broader crypto reserve that encompasses Bitcoin as well. He contended that Ripple\u2019s actions support Trump\u2019s promise to enhance American tech firms, suggesting this could create a more welcoming policy environment for digital currencies.<\/p>\n
However, these efforts have generated controversy within the cryptocurrency community. Bitcoin advocates like Pierre Rochard and Ryan Selkis see Ripple’s actions as counterproductive to a Bitcoin-centric reserve. They assert that Bitcoin, due to its decentralized characteristics and status as an energy-related commodity, should be the focus, raising concerns about XRP’s centralization and Ripple’s control over its supply.<\/p>\n
As of now, Garlinghouse has not publicly addressed Swenson\u2019s latest allegations.<\/p>\n
Currently, XRP is trading at $3.10.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
On January 29, Brady Swenson, co-founder of the Bitcoin-centric financial service platform, Swan, made strong allegations against Ripple’s CEO, Brad Garlinghouse, through a post on X. Swenson did not hold back, stating, \u201cCorrupt Brad … He is not a man of integrity. His track record reveals a consistent pattern of deceiving investors, promoting inflated narratives, […]<\/p>\n","protected":false},"author":14,"featured_media":27116,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Swan Co-Founder Levels Corruption Allegations Against Ripple CEO Garlinghouse - Bitrabo","description":"On January 29, Brady Swenson, co-founder of the Bitcoin-centric financial service platform, Swan, made strong allegations against Ripple's CEO, Brad Garlinghous"},"footnotes":""},"categories":[316],"tags":[1022,576,991,4285,1785,575,4722],"class_list":["post-27115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-accused","tag-ceo","tag-cofounder","tag-corruption","tag-garlinghouse","tag-ripple","tag-swan"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/27115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=27115"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/27115\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/27116"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=27115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=27115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=27115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}