Tuesday, October 26, 2021
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Ripple CEO Responded To Questions About The SEC Lawsuit In A Series Of Tweets

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Ripple CEO Brad Garlinghouse answered questions about the lawsuit filed by the U.S. Securities and Exchange Commission (SEC). He stressed that the company will not give up trying to settle contradictions with the new leadership of the department out of court.

 

When asked if Ripple paid exchanges to list XRP, Garlinghouse  stated that 95% of the tokens are traded outside the US and the company has no influence on the listing or the owners of exchanges.




 

He also pointed to the fact that the American exchanges are not delisting XRP rather suspending XRP trading due to regulations risks. “It’s not just a lack of regulatory certainty in the U.S. right now, it’s regulatory chaos.”

 

The company will soon file an official response to the lawsuit. According to him, Ripple holders are fully confident in the position of Ripple, and Tetragon, which demanded the immediate repayment of their XRP holdings, took unfair advantage of the situation.

Garlinghouse acknowledged that Ripple subsidized early customers of the XRP-based payment network (On-Demand Liquidity, ODL).

 

Recall that the SEC accused Ripple of selling unregistered securities for $1.3 billion over seven years. Preliminary hearings will be held on February 22, 2021.

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Mark Brennanhttps://thecryptobasic.com/
Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.

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