• News
    • Bitcoin
    • Altcoins
  • NFT
  • Metaverse
  • Analysis
  • Regulation
  • Learn
  • Market Cap
What's Hot

FTX Founder Sam Bankman-Fried Pleads Not Guilty to New Charges, Including Bribery of Chinese Officials: Report

2023-03-31

XRP Perpetual Futures Open Interest skyrockets to $610 million

2023-03-31

CNBC’s Jim Cramer calls Binance “way too sketchy”

2023-03-31
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
Facebook TikTok Instagram YouTube
CryptoNewsMetaverse
  • News
    • Bitcoin
    • Altcoins
  • NFT

    U.S. IRS Considers Taxing NFTs Like Other Collectibles

    2023-03-21

    Meta Shuts Down NFT Project to Focus on FinTech and Content

    2023-03-14

    Solana’s Solend V2 Release, Is SOL Price $50 Next?

    2023-03-06

    Amazon NFT Marketplace To Reportedly Launch Next Month

    2023-03-06

    Blur Coin Under Fire As Allegations Of Wash Trading Emerge

    2023-03-01
  • Metaverse

    Siemens and MIT Tech Review Probe ‘The Emergent Industrial Metaverse’

    2023-03-30

    Disney Metaverse Division Reportedly Scrapped

    2023-03-28

    Animoca Denies $200M Metaverse Fund Cut

    2023-03-27

    Metaverse Trading Hits All-Time High

    2023-03-24

    Exploring the Metaverse: A Guide to Investing in Metaverse Stocks

    2023-03-20
  • Analysis

    DOJ Officially Seizes Over $456,000,000 Worth of Robinhood Shares Tied to FTX Founder Sam Bankman-Fried

    2023-01-08

    Mark Cuban Makes Prediction on Next Crypto ‘Scandal,’ Warns of Potential Implosion if Exposed: Report

    2023-01-08

    Binance Listings Cause Crypto Assets To Spike an Average of 41%: New Research

    2023-01-08

    Bitcoin Whales Unloaded BTC As Market Reversed and Parked Their Profits in This Crypto Asset Class: Santiment

    2023-01-07

    Crypto Analyst Predicts Breakout for AI-Focused Altcoin, Updates Outlook on Ethereum and Lido DAO

    2023-01-07
  • Regulation

    FTX Founder Sam Bankman-Fried Pleads Not Guilty to New Charges, Including Bribery of Chinese Officials: Report

    2023-03-31

    XRP Perpetual Futures Open Interest skyrockets to $610 million

    2023-03-31

    CNBC’s Jim Cramer calls Binance “way too sketchy”

    2023-03-31

    Bitcoin reclaims $28k despite potential regulatory woes from Binance lawsuit

    2023-03-31

    Binance daily withdrawals double as users report problems off-ramping

    2023-03-31
  • Learn

    Best Bitcoin Mining Software — TOP Crypto Miners to Use in 2023

    2023-03-30

    Next Cryptocurrency to Explode 2023

    2023-03-30

    Chart Patterns Cheat Sheet For Technical Analysis

    2023-03-21

    Best NFT Wallets in 2023

    2023-03-21

    What are Dapps (Decentralized Applications) Crypto?

    2023-03-17
  • Market Cap
CryptoNewsMetaverse
Home»Regulation»Ripple CEO Brad Garlinghouse Says $3,700,000,000 Wells Fargo Violation Overshadowed by FTX
Ripple CEO Brad Garlinghouse Says $3,700,000,000 Wells Fargo Violation Overshadowed by FTX
Regulation

Ripple CEO Brad Garlinghouse Says $3,700,000,000 Wells Fargo Violation Overshadowed by FTX

2022-12-23No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Ripple Labs CEO Brad Garlinghouse says that most people are obsessing over recent debacles in the crypto industry while ignoring what’s going on in the traditional finance world.

Garlinghouse says that there is a wildly disproportionate amount of attention directed at the collapse of crypto exchange FTX compared to banking giant Wells Fargo, which just paid $3.7 billion in fines for mismanaging customer funds.

“The world is (appropriately) outraged by SBF and FTX’s fraud, but when Wells Fargo mismanages billions in customer funds as well, it’s barely a blip on the radar. Food for thought…”

Wells Fargo was charged by the Consumer Finance Protection Board (CFPB) with mismanaging funds relating to auto loans, mortgages and deposit accounts.

Says CFPB Director Rohit Chopra.

“Wells Fargo’s rinse-repeat cycle of violating the law has harmed millions of American families. The CFPB is ordering Wells Fargo to refund billions of dollars to consumers across the country. This is an important initial step for accountability and long-term reform of this repeat offender.”

On top of the big 10-figure fine, the CFPB also ordered Wells Fargo to “stop charging surprise overdraft fees” and make changes to certain aspects of its policies on auto loans.

Garlinghouse has spoken out in the past about what he says is unreasonable scrutiny of the crypto industry. Earlier this week, he criticized U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler for his lack of foresight on the collapse of FTX and its former CEO, Sam Bankman-Fried.

The Ripple CEO said it was “shameful” that Gensler, who often lectures crypto firms on regulatory compliance, failed to see the FTX disaster coming despite having multiple personal meetings with Bankman-Fried.

“It’s ridiculous and frankly shameful that Chair Gensler was touting the SEC’s enforcement actions as the ‘cop on the beat,’ yet (per public reports) MET with [Sam Bankman-Fried] multiple times, but was caught completely flat-footed when the alleged fraud finally came to light.”

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Featured Image: Shutterstock/Volodimir Zozulinskyi



Source link

Brad CEO Fargo FTX Garlinghouse Overshadowed Ripple Violation Wells
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

FTX Founder Sam Bankman-Fried Pleads Not Guilty to New Charges, Including Bribery of Chinese Officials: Report

2023-03-31

XRP Perpetual Futures Open Interest skyrockets to $610 million

2023-03-31

CNBC’s Jim Cramer calls Binance “way too sketchy”

2023-03-31

Bitcoin reclaims $28k despite potential regulatory woes from Binance lawsuit

2023-03-31
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Yuga Labs faces user backlash for under wraps KYC-restricted project

2022-03-12

Tron [TRX]: Why an extended rally depends on these conditions

2022-06-10

Bitcoin (BTC) Price Is Set To Rally On These Two Key Factors

2022-04-08

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Instagram YouTube TikTok
Top Insights

FTX Founder Sam Bankman-Fried Pleads Not Guilty to New Charges, Including Bribery of Chinese Officials: Report

2023-03-31

XRP Perpetual Futures Open Interest skyrockets to $610 million

2023-03-31

CNBC’s Jim Cramer calls Binance “way too sketchy”

2023-03-31
Get Informed

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Cryptonewsmetaverse.com. Designed by ProdigitalX.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$28,621.001.92%
  • ethereumEthereum(ETH)$1,830.552.01%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.22%
  • binancecoinBNB(BNB)$317.920.23%
  • usd-coinUSD Coin(USDC)$1.000.08%
  • rippleXRP(XRP)$0.540.34%
  • cardanoCardano(ADA)$0.4021596.31%
  • Lido Staked EtherLido Staked Ether(STETH)$1,826.052.17%
  • dogecoinDogecoin(DOGE)$0.0772673.54%