CNBC reports that on Tuesday, Brad Garlinghouse, the CEO of Ripple, attacked Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), labeling him a "political liability."

"I think Gary Gensler is doing the same thing over and over again, and he thinks that somehow he's going to win in court," the CEO of Ripple said, drawing attention to the SEC's recent losing record. He has kept losing legal battles."

Garlinghouse stated, "Doing the same thing over and over again and expecting a different outcome is one of the definitions of insanity," alluding to what he saw as Gensler's continuous anti-crypto campaign.

Binance, Coinbase, and Kraken are three of the biggest cryptocurrency exchanges that the SEC charged with selling unregistered securities on their websites. The legal actions are not yet over.

In December 2020, the SEC filed a complaint against Ripple, claiming that unregistered securities offerings were used by the business and its officials to sell XRP currency.

In July of last year, a court ruling that XRP is not a security as a matter of law gave Ripple a major win in the SEC dispute. The SEC also failed to get its request for an interlocutory appeal granted in October. The SEC withdrew all outstanding allegations against Chris Larsen, executive chairman of Ripple, and Brad Garlinghouse, CEO, in the same month.

The Ripple litigation is currently in the remedies phase. Complementary filings and the completion of all relevant discovery are scheduled for February 12th.

In the meantime, Ripple has submitted a Motion for Extension of Time, requesting until January 19—two more days—to respond to the SEC's Motion to Compel.