XRP CEO Outraged Over Lawsuit and SEC Litigation
Ripple CEO Brad Garlinghouse revealed he was outraged with the US Securities and Exchange Commission (SEC) over the regulator’s continued lawsuit against the crypto company’s XRP.
In an Oct. 15 tweet, Brad Garlinghouse said the SEC had shown no concerns for companies or individuals that its lawsuit against the XRP token would harm. According to him, the Gary Gensler-led commission’s pursuit of a policy objective is not about “a faithful allegiance to the law. (Instead) It’s about power.”
Ripple CEO Brad Garlinghouse continued that the SEC would face no consequences for the lawsuit. He added that the commission “has clearly forgotten that the government works for the people.” He said:
“We all should be outraged.”
Garlinghouse made this statement in response to a tweet from a user who noted that the Ripple CEO was increasingly using profanity in his discussions about the SEC’s lawsuit. In response, he said his outrage has been growing as the litigation proceeds.
In a widely circulated online video, Garlinghouse pointed out that no one outside America cares about the lawsuit. According to him, every other country where Ripple is doing business already has an established principle on digital assets.
Last week, the Ripple CEO said he anticipates the lawsuit ending during the first half of next year. The case between both parties is currently in the summary judgment phase.
Ripple (XRP) Scoring Minor Wins From SEC Lawsuit
Ripple has scored several minor wins concerning its ongoing lawsuit against the SEC. The crypto firm recently had the court rule in its favor mandating the commission to release former Director William Hinman’s statement on Ethereum.
Popular crypto YouTuber Ben Armstrong (BitBoy Crypto) also alleged that Director Hinman accepted bribes to declare ETH a commodity.
Judge Analisa Torres also approved the amicus Amicus briefs filed by two third parties (I-Remit and TapJets) who use Ripple’s blockchain technology for their operations.
Meanwhile, the strings of recent wins have seen XRP’s price rise. Over the last 30 days, the digital currency has risen by 46%. However, its value has declined on the seven days metrics to $0.4830 at press time.
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