Ripple CEO Brad Garlinghouse expressed astonishment at former SEC Chair Jay Clayton’s recent statements during an interview with the Council on Foreign Relations. Clayton’s comments seemed contradictory to his previous regulatory stance, particularly regarding the challenges faced by entrepreneurs and investors in the cryptocurrency space. He expressed sympathy for entrepreneurs and retail investors, a significant shift from his actions as SEC Chair. Clayton also suggested that regulators should make it easier for small and medium-sized companies to raise capital and for non-accredited investors to participate in opportunities. He emphasized that cryptocurrencies should be recognized as technology, not just a product, and that the market should decide their classification as securities or commodities. This perspective contrasts with the SEC’s aggressive stance under Clayton’s leadership, including the lawsuit against Ripple. Garlinghouse, in response to Clayton’s comments, expressed disbelief, reflecting the frustration felt by many in the XRP community. The lawsuit initiated by Clayton had a significant impact on XRP, causing a sell-off and raising questions about the ethics behind regulatory decisions.