Garlinghouse Says SEC Lawsuit Does Not Affect XRP’s Growth At All

April 27, 2022 12:00 pm

Even as Ripple has been involved in a lawsuit with the SEC for over a year now, it is clear that it has had minimal impact as the company is still reaching record high valuations.

Ripple CEO Brad Garlinghouse has already mentioned that the company has already shifted its business model to succeed on a global scale no matter what the SEC decides to do.

Currently, the company is hiring a record amount of new talent in areas outside of the United States and the company growth is reflected in the recent valuation which came in at a record $15 billion.

Garlinghouse also mentions that 99% of Ripple’s customers are also payment companies that are based outside of the United States right now which indicates that XRP does not even need the US market to succeed.

With that being said, Ripple’s likely win in the ongoing SEC lawsuit is expected to expand XRP to even higher levels once announced.

U.today reports:

Garlinghouse says that the whole industry is being impacted by the decision, rejecting the idea that the ongoing fight is just about Ripple.

Ripple boss says that the SEC has been dragging its feet, accusing the SEC of hiding its notes despite claiming that they are all about disclosure and transparency.

“Justice delayed is justice denied. Unfortunately, justice is being delayed here by continued efforts by the SEC to push things out,” Garlinghouse said.

He also noted that the Howey Test is being stretched “beyond recognition.”

In addition, Garlinghouse has reiterated that the SEC is harming the cryptocurrency industry by failing to provide clarity.

Garlinghosue has also made previous comments that he envisions that the future will likely be made up of multiple blockchains and that there is no single winner in crypto.

Each blockchain will likely have its own sector that it will dominate such as XRP becoming a global financial payment network and Bitcoin being regarded as a storage of wealth.

As a result, the CEO has advocated for change within the crypto industry to avoid tribalism within the community which could potentially delay growth of the industry.

A lot is also going on behind the scenes as the data shows that there are some big moves being done on the exchanges.

U.today reports:

Approximately 15 hours ago, Ripple blockchain behemoth was spotted making two substantial transfers of 70 million XRP in total. These transactions carried 50,000,000 and 20,000,000 of Ripple-affiliated tokens.

According to Bithomp XRP-focused data provider, one of Ripple’s reserve wallets—RL18-VN—was engaged in both transactions.

It was the destination for 50 million XRP and, from it, 20 million coins were sent to Coins.ph, a Ripple-powered On-Demand Liquidity platform running in the Philippines.

The rest of the abovementioned XRP amount was sent from Bittrex to Bitstamp (30,000,000 coins) and by Coinone exchange (15,335,267 XRP).

The overall sum of XRP shoveled by Ripple and exchanges constitutes $74,814,502 in fiat.

So far, 2022 already seems to be shaping up to be the biggest growth year for Ripple outside of the United States as investors continue to wait for the outcome of the lawsuit.

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