Ripple’s CEO, Brad Garlinghouse, has sharply criticized The New York Times, accusing it of disseminating biased and deceptive information regarding the cryptocurrency industry following a report on the US Securities and Exchange Commission’s (SEC) actions under President Trump’s administration.

In a response on social media, Garlinghouse labeled the report as ‘another crypto hit piece,’ claiming the publication continues to perpetuate a misleading narrative while neglecting significant judicial critiques regarding the SEC’s enforcement actions during the Biden era.

He stated that the NYT’s coverage relied on ‘half-truths and outright omissions’ to support what he characterizes as an ‘illegal War on Crypto’ that began under the previous administration.

“False and Failed Narrative”

Garlinghouse specifically criticized the report for failing to highlight crucial rulings by federal judges that challenged the SEC, including one from US Magistrate Judge Sarah Netburn, who pointed out the agency’s failure to exhibit ‘faithful allegiance to the law.’ Additionally, he questioned the absence of similar report headlines during Biden’s presidency, when the SEC took a more aggressive stance against crypto firms like Ripple.

He remarked:

‘This is not journalism.’

His remarks were a response to a December 14 investigation asserting that the SEC has retreated from over 60% of ongoing crypto cases since Trump’s return to office. The report indicated that while several companies benefited from this shift, including Ripple, it found no evidence suggesting direct pressure from Trump or any inappropriate influence from those firms.

NYT Coverage ‘Crypto Dementia’

Alex Thorn, head of firmwide research at Galaxy Digital, also expressed his concern with the NYT’s report, arguing it was founded on a false premise regarding the regulatory changes being depicted. In a post, Thorn claimed that the piece misrepresented the nature of Biden’s administration’s crackdown on crypto, asserting:

‘This type of reporting relies on the readership being uninformed, which, unfortunately, too many are.’ Ultimately, Thorn concluded that the NYT is perpetuating what he described as ‘crypto dementia.’