NewsletterXRP Lawsuit: Ripple CEO Calls SEC Action ‘Embarrassing As A US Citizen’
Ripple XRP Lawsuit News: Ripple CEO Brad Garlinghouse came out heavily in criticism against the SEC yet again on Wednesday. While it is still not clear as to when the XRP vs SEC lawsuit judgement will be out, Garlinghouse criticized the U.S. Securities and Exchange Commission’s (SEC) behavior in the lawsuit. Speaking on the occasion of the World Economic Forum annual meeting, the Ripple CEO touched about the timeline for the lawsuit closure. He said the judgement could be out in the space of a few months.
Also Read: Up 25% in 7 Days, This Crypto’s Next Move Deserves Your Attention
Earlier, Garlinghouse said there was zero chance that both parties could reach a settlement due to fundamental differences. Any settlement would depend on whether the SEC recognizes XRP as not a security, he added. The XRP case is revolved around the SEC’s allegation that Ripple sale of XRP represented sales of unregistered securities. However, Ripple always contested that view and kept fighting the argument.
‘SEC Behavior Embarassing’
Speaking to CNBC, the Ripple CEO described SEC’s behavior while handling the XRP case as embarrassing as a U.S. citizen. Garlinghouse said he was expecting that the judge overseeing the XRP lawsuit would come out with the judgement in 2023 itself. In fact, he is optimistic of the judgement to be out in the space of months. The case is now fully filed and fully briefed in front of the judge, and we expect a decision certainly in 2023, he said.
“The SEC’s behavior while handling the XRP case was embarrassing as a U.S. citizen. There are some of the things you have seen happen and you are like you’ve got to be kidding me.”
Also Read: Shiba Inu Burn Rate Spikes By 650% Amid Massive Price Pump
The XRP price recovered significantly in 2023. As of writing, the XRP price stands at $0.37543, down 3.48% in the last 24 hours, according to CoinGape price tracker.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Kalshi Extends Lead Over Polymarket With Its Data Now Live on CNBC and CNN
- Bitcoin, ETH, XRP, SOL’s Max Pain Price as Over $4B Options to Expire
- Spot XRP ETFs Nears $1B AUM Milestone as Streak of No Outflows Continues
- Base–Solana Bridge Goes Live With Chainlink Integration, Boosting Cross-Chain Liquidity
- Bitwise CIO Calls Strategy Bitcoin-Sell Narrative “Flat Wrong” in New Client Memo Note
- What’s Next for Dogecoin Price After Whales Scoop 480M DOGE?
- Can Solana Price Bounce Back to $200 by End of 2025?
- Cardano Price Prediction Ahead of Midnight Sidechain Launch — Is ADA Headed for $0.85?
- Sui Price Eyes $2+ as SEC Approves First 2X Leveraged SUI ETF
- Pi Network Price Shows Signs of Recovery as Unlock Rate Cools
- Bitcoin Price Could Break $100k as Odds of 3 Rate Cuts Hit ATH
