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HomeCrypto NewsMarketWEF23: Ripple CEO Optimistic of a Favorable Ruling Against SEC, Settlement Not Likely

WEF23: Ripple CEO Optimistic of a Favorable Ruling Against SEC, Settlement Not Likely

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Garlinghouse doesn’t expect a settlement with SEC.

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Brad Garlinghouse, CEO at Ripple, has noted that he expects a final resolution of the legal battle with the U.S. SEC in the first half of this year, revealing that he feels confident about the outcome due to Ripple’s position with the law. Garlinghouse further noted that a settlement is unlikely, as it would only be initiated if the SEC admits XRP is not a security.

The Ripple CEO made these comments while speaking to CNBC today at the World Economic Forum 2023 held in Davos, Switzerland. 

“The case is now fully briefed in front of the judge […] We are optimistic that this will certainly be resolved in 2023, maybe the first half. We’ll see how it plays out from here, but I feel very good about where we are relative to the law and the facts,” Garlinghouse remarked.

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He also mentioned that, though Ripple would love to settle, such a settlement will only materialize if the SEC acknowledges that XRP is not a security. However, since the SEC has maintained its motion that most crypto assets, including XRP, are securities, Garlinghouse noted that this means a settlement may not take place.

“We have always said that we would love to settle, but it requires one very important thing, and that is that, on a go-forward basis, it’s clear that XRP is not a security,”

“I’m very optimistic and I think, absent some significant change in posture from the SEC, I can’t imagine that we won’t have a resolution from the judge, … I have heard in Davos repeatedly how important it is  (SEC, Ripple lawsuit) for the whole crypto industry in the United states,” he added when asked further if Ripple plans to wait on the judge’s decision. He also pointed out the significance of the lawsuit to the broader crypto scene in the United States, which remains the general consensus.

Garlinghouse’s Comments are in Sync with Deaton’s Stance

Attorney John Deaton recently highlighted Garlinghouse’s comments regarding a settlement, as they corroborate his stance on the matter which several people disagreed with. Deaton has repeatedly asserted that the litigation will not end in a settlement, lately putting it up as one of his predictions for this year.

 

He also made such claims on New Year’s Day when several proponents revealed that they expect a settlement. Deaton conducted a poll last December, asking XRP investors what they think the litigation will end with. 59% of the respondents disclosed that they feel it’ll end with a settlement.

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Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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