{"id":6899,"date":"2023-05-25T17:33:44","date_gmt":"2023-05-25T17:33:44","guid":{"rendered":"https:\/\/www.bitrabo.com\/community\/breaking-ripple-ceo-drops-bombshell-court-case-could-be-over-sooner-than-expected\/"},"modified":"2023-05-25T17:35:03","modified_gmt":"2023-05-25T17:35:03","slug":"breaking-ripple-ceo-drops-bombshell-court-case-could-be-over-sooner-than-expected","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/breaking-ripple-ceo-drops-bombshell-court-case-could-be-over-sooner-than-expected\/","title":{"rendered":"Brad Garlinghouse, CEO of Ripple, Expects Court Ruling in SEC Lawsuit in Weeks"},"content":{"rendered":"\n<div>\n<p>Ripple Labs CEO Brad Garlinghouse shared in an interview during the \u201cRedefine Tomorrow 2023&#8221; summit that he anticipates a court ruling on the US Securities and Exchange Commission\u2019s (SEC) lawsuit against Ripple \u201cin weeks, not months.\u201d The SEC filed a legal action against Ripple in 2020, alleging the company violated regulations by raising more than $1.3 billion in ongoing digital asset sales without registering the XRP cryptocurrency as a security. Ripple has contested the allegations and stated that XRP is a currency and not a security.<\/p>\n<h2>Ripple&#8217;s CEO Believes Outcome Will Be Favorable<\/h2>\n<p>During the interview, Garlinghouse emphasized that 95% of Ripple\u2019s customers are non-US and that he would not establish the company in the United States if given a chance following the current regulatory landscape. Garlinghouse and co-founder Chris Larsen filed a motion to dismiss the SEC\u2019s case in March, arguing that the lawsuit\u2019s foundation is flawed and that XRP is a currency that works independently of Ripple, not a security. The SEC has accused Ripple of repeatedly performing illicit securities offerings. Ripple blamed the SEC for inflicting \u201cmulti-billion dollar losses\u201d on XRP investors due to the lawsuit.<\/p>\n<p>The outcome of this case could set a precedent for how the US governs digital assets. A ruling in favor of Ripple could provide further clarity and pave the way for broader adoption of cryptocurrency. In contrast, if the SEC prevails, it could subject other cryptocurrencies to greater regulatory scrutiny, prompting them to be included as securities.<\/p>\n<p>In a Bloomberg interview on March 2, Garlinghouse stated that the case is \u201cpivotal for the whole industry\u201d and voiced his hopes that the court will reach a verdict by the end of this year. The CEO believes that XRP is not a security and that the US needs to define clearer regulations for digital assets. Garlinghouse contends that the SEC\u2019s recent increase in cryptocurrency enforcement actions places the US behind other countries regarding productive cryptocurrency regulation.<\/p>\n<p>Some members of the cryptocurrency community interpret Garlinghouse\u2019s expectation of a ruling in the coming weeks as an indication that he believes the decision will be in Ripple\u2019s favor, suggesting that the court regards Ripple\u2019s arguments seriously and that the SEC\u2019s case is flawed.<\/p>\n<figure style=\"width: 1814px\" class=\"wp-caption aligncenter\"><figcaption class=\"wp-caption-text\">XRP\u2019s downtrend on the 1-day chart. Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/chart\/imgb0rW1\/?symbol=BINANCE%3AXRPUSDT\">XRPUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Featured image from Unsplash, chart from TradingView.com\u00a0<\/span><\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple Labs CEO Brad Garlinghouse shared in an interview during the \u201cRedefine Tomorrow 2023&#8221; summit that he anticipates a court ruling on the US Securities and Exchange Commission\u2019s (SEC) lawsuit against Ripple \u201cin weeks, not months.\u201d The SEC filed a legal action against Ripple in 2020, alleging the company violated regulations by raising more than [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6901,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Brad Garlinghouse, CEO of Ripple, Expects Court Ruling in SEC Lawsuit in Weeks - Bitrabo","description":"Ripple Labs CEO Brad Garlinghouse shared in an interview during the \u201cRedefine Tomorrow 2023'' summit that he anticipates a court ruling on the US Securities and"},"footnotes":""},"categories":[316],"tags":[1045,1044,796,576,1046,806,1048,575,1047],"class_list":["post-6899","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bombshell","tag-breaking","tag-case","tag-ceo","tag-court","tag-drops","tag-expected","tag-ripple","tag-sooner"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/6899","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=6899"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/6899\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/6901"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=6899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=6899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=6899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}