Ripple Labs CEO Brad Garlinghouse has expressed shock and dismay over SEC Chair Gary Gensler’s meetings with former FTX CEO Sam Bankman-Fried, describing them as “shameful.”

In an op-ed published in the Wall Street Journal, Garlinghouse questioned how Gensler could have been surprised by the FTX bankruptcy while having meetings with Bankman-Fried on multiple occasions.

The SEC had filed a lawsuit against Ripple in late 2020 for supposedly offering XRP tokens as an unlicensed security, but did not take any legal action against FTX before its multibillion-dollar bankruptcy. B

ankman-Fried has been indicted for multiple offenses, including fraud, mishandling of customer funds, and making illegal campaign contributions, and was recently arrested in the Bahamas.