In a recent tweet, Ripple CEO Brad Garlinghouse said that he agreed with Crypto Council CEO Sheila Warren when it comes to crypto regulation.
In her tweet, Warren said that regulators should work to disincentivize “horrible behavior” following the collapse of the FTX cryptocurrency exchange.
She adds that regulators should make it hard to pull off such shams in the first place while also creating accountability for fraudsters.
As reported by U.Today, Garlinghouse suggested that the FTX exchange operated as a fraudulent scheme. He believes that the crypto industry is still in its nascency, which is why it keeps attracting crooks. The Ripple executive expects crypto to mature.
On Thursday, Galaxy Digital CEO Mike Novogratz said that Bankman-Fried had to go to jail.
However, Bankman-Fried denies knowingly co-mingled customer funds with those of trading firm Alameda. The disgraced FTX founder also doesn’t think that he has criminal liability.