Ripple CEO Brad Garlinghouse Unveils SEC Appeal, Crypto Predictions, Next Black Swan
Highlights
- Ripple CEO Brad Garlinghouse discussed scaling Ripple, SEC lawsuit, and crypto market predictions in an interview.
- Brad Garlinghouse is confident that the SEC is going to lose in the long run.
- He predicted crypto market can hit a $5 trillion market cap by the end of this year.
- He labels SEC going after USDT-issuer Tether as another Black Swan event.
- Judge Torres might dismiss the SEC's disgorgement argument that institutional investors suffered pecuniary harm.
Ripple CEO Brad Garlinghouse answers key questions while sharing key insights on topics like joining and scaling Ripple, fighting the long-running lawsuit against the U.S. Securities and Exchange Commission (SEC), and crypto market predictions & future of blockchain technology.
Besides, he also discussed making an impact with XRP in the universe, lessons learned over the years in Silicon Valley, and key moves to finding success and lasting happiness.
Ripple CEO Brad Garlinghouse’s Insights on SEC Lawsuit
Brad Garlinghouse, CEO of Ripple Labs, in an interview with Chris Vasquez, host of World Class Podcast, explained the company took risks to fight the securities regulator SEC for clarity and stop the “bully” SEC from attacking the crypto market.
He said Judge Torres’ summary judgment on July 13 was key learning and one of the best days. Garlinghouse added that the SEC has been trying to settle the lawsuit to “create a narrative that Ripple’s been a bad actor.” Despite appeals and other arguments, Brad Garlinghouse is confident that the SEC is going to lose in the long run.
In response to crypto becoming a partisan issue in the U.S., Brad Garlinghouse asserts this will end up being the issue that pushes swing state voters away from the Democrats. He blames Senator Elizabeth Warren for politicizing it and Democrats fails to realize that she is “leading them off a cliff.”
Also Read: Bloomberg Reveals Reasons Behind Bitcoin, ETH, SOL, XRP, SHIB Prices Crash
Crypto Market Predictions
Ripple CEO reaffirmed the crypto market can hit a $5 trillion market cap by the end of this year. He advised people to think of long term investments, trading is what he doesn’t recommend going straight into crypto trading.
He indirectly hints at XRP price rally as the impact of the SEC lawsuit fades away this year. XRP price is still undervalued due to the lawsuit with the price currently trading range near $0.50.
He believes there will be black swan events in the crypto industry. He said “Do I think there’s going to be another Black Swan of course 100%. I just don’t know exactly what it is.
He predicted that the SEC is going after USDT-issuer Tether, believing it is the only one that’s going to be an interesting one to watch. Moreover, he doesn’t believe there’s a risk of Quantum Computing to the crypto market at large.
Also Read: Here’s Why Bitcoin Price Is Falling Sharply
XRP Lawsuit and Remedies Update
Lawyer James Murphy, also known as “MetaLawMan,” believes Judge Torres might dismiss the SEC’s disgorgement argument that institutional investors suffered pecuniary harm due to the use of the SEC v. iFresh case to reason disgorgement, which is a “not for publication”.
Moreover, the SEC has attacked Ripple’s plan to issue stablecoin to seek injunctions, trying to sabotage XRP ODL sales. Ripple can use the court’s opinion and ruling in Binance lawsuit to counter the SEC’s claims that the new stablecoin is an unregistered crypto asset.
Also Read: Binance Under Surveillance of US Justice Dept’s Monitor Forensic Risk Alliance
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