Citibank Debanked Ripple's Brad Garlinghouse Due to Crypto, Exec Says
Ripple CEO Brad Garlinghouse has been de-banked by Citigroup after a 25-year relationship due to his prominence in the crypto industry. He highlighted a broader trend of individuals in crypto facing similar banking challenges as U.S. regulators advise banks to limit crypto involvement. Garlinghouse criticized the Biden administration, claiming SEC Chair Gary Gensler has created a "reign of terror" against the industry and described the Treasury and OCC as "hostile." He expressed optimism for future crypto policy, stating a reset is likely regardless of the upcoming presidential election outcome. He believes an ETF linked to XRP is "inevitable." Garlinghouse advised crypto startups to incorporate outside the U.S. due to regulatory uncertainties, despite his pro-U.S. sentiments.
