Ripple's CEO Brad Garlinghouse draws attention to the end of the SEC's pushback against the XRP community following a significant recent court verdict.
In Brief
In a recent statement, Brad Garlinghouse, CEO of Ripple, acknowledged the recent court ruling and reiterated the company's plans for future growth and development.
CEO of Ripple In a post shared on the social platform X, Brad Garlinghouse addressed the hefty fine levied by the SEC against Ripple. He pointed out that while the SEC initially sought $2 billion, the court ultimately reduced that figure by over 94%, recognizing that the SEC had overstepped its bounds. He expressed his appreciation for this ruling and reaffirmed Ripple’s dedication to its growth. SEC Garlinghouse further remarked that this legal development is a win not just for Ripple, but for the broader cryptocurrency space and the principles of law, as the SEC's legal challenges faced by the XRP community were duly acknowledged and addressed.
This represents a significant triumph for Ripple, the cryptocurrency ecosystem, and the rule of law overall. The SEC's...
On Wednesday, Ripple Ripple's legal struggles showcase a blend of mixed outcomes in relation to allegations concerning $1.3 billion generated from XRP sales, which the SEC categorized as unregistered securities back in 2020. The most recent directive from the judge followed a ruling made in July 2023, which determined that Ripple had indeed violated federal securities laws with its direct sales to institutional clients. However, the judge also clarified that Ripple's sales of XRP to retail clients through exchanges did not infringe upon any regulations.
In another twist, the SEC decided in October to withdraw its legal action against Ripple's CEO Brad Garlinghouse and co-founder Chris Larsen concerning accusations of illegal sales of securities by the executives.
The SEC XRP’s trading price has surpassed $0.60, indicating a remarkable growth of 18.42% within the last 24 hours, based on data provided by CoinMarketCap.
The United States Securities and Exchange Commission.
As of this writing, the price of XRP Please be aware that the content on this page is not meant to be interpreted as legal, tax, investment, financial, or any other kind of advice. It is essential to only invest what you can afford to lose and to seek independent financial counsel if needed. For more detailed information, we recommend consulting the terms and conditions, along with the help and support materials provided by the issuers or advertisers. MetaversePost is dedicated to delivering accurate and impartial reporting; however, market conditions may change without prior notice.
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