The CEO of Ripple, Brad Garlinghouse, made a headline-grabbing statement at the XRP Sydney 2026 event in Australia, claiming that former U.S. Securities and Exchange Commission Chairman Gary Gensler privately apologized over the XRP case.
According to Garlinghouse, Gensler met with him at the White House and said, “I’m sorry… I was wrong,” referring to the SEC’s 2020 securities lawsuit against Ripple.
Speaking at the event, Garlinghouse described the moment as a “big surprise,” adding that after years of legal confrontation, “utility had won.” His remarks were widely interpreted as a symbolic validation of Ripple’s long-standing argument that XRP functions as a utility token rather than a security.
The 2020 lawsuit triggered significant volatility across the crypto market and led to a sharp decline in XRP’s price at the time. Gensler faced sustained criticism from the crypto industry over the SEC’s enforcement-driven regulatory approach.
Following Gensler’s resignation, the SEC’s stance toward digital assets reportedly shifted, signaling a broader reassessment of crypto policy in the United States.
Source: Public statements by Brad Garlinghouse at XRP Sydney 2026
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