Ripple CEO Takes A Stand Against The SEC

By Kevin • January 27, 2022 3:29 pm • Comments

Earlier this week, the company had announced that it had bought back a significant amount of shares from investors despite the ongoing lawsuit indicating the company’s optimism on XRP’s future growth.

Ripple’s CEO, Brad Garlinghouse, had also took a moment to once again reaffirm the company’s position in the market despite all the activity with the SEC last year and how he sees this will unfold the rest of the year.

Garlinghouse states that the financial landscape is continuing to evolve because of the emergence of blockchain and cryptocurrencies and that this progress is very visible all around the world in places like United Kingdom, Switzerland, and Singapore.

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However, it seems that the SEC within the United States is slow to adopt the changes and is interfering with the development of currencies like XRP and not giving every crypto firm a fair chance to succeed in the market.

As a result, the CEO sees the ongoing battle as XRP constantly defending itself from the SEC and constantly trying to get clarity, but is unable to since the SEC continues to drag the case and prevent closure for the case.

Protocal.com shares:

The SEC declared war on Ripple. Are we being combative? I don’t know. We’re trying to defend ourselves.

If you read their initial lawsuit, there’s all kinds of allegations there that aren’t actually grounded in fact. They’ve certainly contorted the facts into telling a story which doesn’t represent reality.

I don’t know if we’re being combative. I think we’re trying to get the truth.

We’re trying to get this resolved as expediently as we can. The SEC is dragging its feet. We got sued.

You’d think that if they sued us, they’d have all the ducks in a row. And they’re the ones dragging their feet. Of course I’m going to be combative.

The company CEO also commented on speculations that the recent buyback might be a part of a longer term strategy for the company to eventually do an IPO and go public.

Garlinghouse stated that going public will be something that will probably happen somewhere down the future, but there have been no concrete plans yet for the company given that the company is focusing much of its resources on battling the SEC and ensuring that XRP is set for growth in 2022.

The company is also not worried about the recent crypto market crash and the effect that it has had on the total valuations of many cryptocurrencies.

The CEO stated that XRP has already been around for 7 years or more and has been a part of many market crashes and booms, but has always continued to thrive no matter what happened.

He concluded that he remains optimistic for the future of the company and is especially bullish on the overall crypto industry as many governments continue to devalue fiat currencies by printing which is causing concerns for inflation all over the world.

As the U.S. and many countries around the world are still creating a regulatory framework for cryptocurrencies, the SEC v. Ripple lawsuit is being closely watched for its potential to legally define XRP and many other cryptocurrencies in the future.

 

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