Ripple lawsuit. Now the person in charge speaks!
- No out-of-court settlement
- What's next with XRP? Will there be another crash?
Now Brad Garlinghouse, the Ripple CEO, has spoken out. He presented new information in a Twitter thread - namely that there was no court settlement with the US Securities and Exchange Commission. That is, now the court decides.
In addition to the information that there was no out-of-court settlement, Garlinghouse immediately took a position on the lawsuit. There are "unproven allegations" on the part of the SEC, which are "strongly rejected". "We are on the right side of the facts and history," said Garlinghouse. However, the CEO emphasized that even if there was no out-of-court agreement, he should remain ready to talk.
Now the court decides
The SEC, the US stock exchange regulator, filed a lawsuit against the company Ripple in December 2020. The cryptocurrency would be the sale of an illegal security. After the lawsuit was filed, nearly 30 crypto exchanges - including Bitstamp, Bittrex, OKCoin, and Coinbase - stopped trading XRP.
“XRP is decentralized and completely independent. Ripple has no control over the cryptocurrency and therefore has no influence on which trading platforms XRP can be found, ”says Garlinghouse. Garlinghouse also referred to the fact that more than 95 percent of the digital currency would be traded outside the US - restrictions imposed by the US regulatory authority would therefore only have a very minor impact.
It is not the first time that the fourth largest crypto currency (based on market capitalization) has to defend itself against various allegations. There have been critical voices over and over again in recent years, as Ripple has carried out massive sales of its own crypto assets. Thus a manipulation of the price was realized.
At the current time, the XRP price is 0,302 US dollars. The all-time high was set in January 2018 - at that time the cryptocurrency was 3,40 US dollars. So at the moment you are 91 percent behind your personal price record.