- Ripple CEO Brad Garlinghouse disclosed the next steps in the context of a lawsuit with the U.S. Securities and Exchange Commission (SEC).
- In an interview on November 10th, Ripple CEO Brad Garlinghouse stated that they feel more secure after three consecutive victories against the SEC.
- Discussing the next plan regarding the lawsuit, Brad Garlinghouse claimed that the SEC overlooked its mission to protect investors.
In his latest statements, Ripple CEO Brad Garlinghouse announced future plans and shared his thoughts on the current cryptocurrency market.
Brad Garlinghouse Shares Plans
Ripple CEO Brad Garlinghouse revealed the next steps in the context of a lawsuit with the U.S. Securities and Exchange Commission (SEC). In a situation where both sides agreed on an information schedule for proposed resolutions of Section 5 violations related to corporate sales, Ripple aims to challenge the SEC’s $770 million repayment demand.
In an interview on November 10th, Ripple CEO Brad Garlinghouse stated that they feel more secure after three consecutive victories against the SEC. Firstly, the decision by Judge Torres on July 13th unequivocally declared that XRP itself is not a security. This allowed crypto exchanges to relist XRP and led to the cryptocurrency surpassing $0.80.
Secondly, Judge Torres rejected the SEC’s temporary restraining order, and finally, the SEC definitively dropped charges against Ripple executives Brad Garlinghouse and Chris Larsen. Garlinghouse labels the SEC’s approach as ‘insanity.’
“The SEC keeps doing the same thing over and over again and thinks they’ll get a different result. Grayscale also had a significant victory in the U.S. with the Bitcoin ETF, where a federal judge was talking about a federal agency being arbitrary and capricious.”
Speaking about the next plan regarding the lawsuit, Brad Garlinghouse claimed that the SEC overlooked its mission to protect investors. He stated that Ripple would welcome the judge’s decision on the resolution, examine which investors suffered losses, and scrutinize securities laws concerning institutional investors.
He believes this is a positive development for the industry in the U.S. and hopes the sector will have growth potential in the country. He also makes a reference to SEC Chairman Gary Gensler’s meeting with Sam Bankman-Fried.
Ripple CEO’s Market Prediction
Brad Garlinghouse, making a long-term cryptocurrency market prediction, emphasizes the significance of Bitcoin halving, ETF approvals, and previous patterns for price movements. The big picture for the industry involves regulatory clarity, numerous use cases, and solving scalability issues. “It’s trials and tribulations, not certainties.” However, he believes macro impacts will continue to drive the crypto sector forward.
The price of XRP is currently trading at $0.6467, up 32% in a month and 85% in a year. Analysts anticipate a significant rally in the next bull market.
