Brad Garlinghouse, American businessman and Chief Executive of Ripple Labs, is outraged at how Wells Fargo’s recently-uncovered asset mismanagement is being reported and handled by U.S. financial authorities, compared to the magnitude of coverage the FTX collapse has attracted.
The Kansas-born businessperson took to Twitter to express dissatisfaction with the current happenings. According to Garlinghouse, the outrage triggered by the FTX collapse is appropriate and justified. However, he believes Wells Fargo’s loan and asset mismanagement case should be getting as much attention from mainstream media and financial authorities as FTX’s dilemma.
“The world is (appropriately) outraged by SBF and FTX’s fraud, but when Wells Fargo mismanages billions in customer funds as well, it’s barely a blip on the radar. Food for thought…,” Garlinghouse remarked in a tweet Wednesday. Reactions have trailed the Ripple Chief’s comments on the situation.
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