- Ripple's CEO needs the US to be the monetary heart of next-generation know-how.
- Garlinghouse condemned the rejection of cryptocurrencies within the US
- Ripple has been accused of “deceptive statements” made by its CEO Garlinghouse.
Ripple CEO Brad Garlinghouse has reiterated his imaginative and prescient for the US to grow to be a worldwide chief in blockchain and cryptocurrencies, regardless of ongoing regulatory challenges and a brand new lawsuit towards the corporate.
A staunch Ripple supporter, JackTheRippler, shared on X an excerpt from Garlinghouse's CNBC interview through which the CEO lamented the sort of crackdown the US authorities is going through on the cryptocurrency {industry}. Garlinghouse mentioned the {industry} was “behind Washington” and was pressured to take a defensive place.
Garlinghouse attributed a number of the cryptocurrency {industry}'s issues within the US to a lack of know-how amongst policymakers, whereas suggesting that some authorities officers could also be intentionally anti-industry.
In the meantime, Ripple is going through a brand new lawsuit over alleged “deceptive statements” Garlinghouse made in an interview in 2017. A California Superior Court docket choose allowed the case to proceed, searching for a jury trial reasonably than abstract judgment.
The lawsuit facilities on Garlinghouse's assertion to reporters from Canada's BNN Bloomberg in 2017 through which he claimed to be “very, very lengthy” XRP, Ripple's native token, whereas allegedly promoting tens of millions of XRP that very same 12 months.
Ripple's ongoing case with the US Securities and Trade Fee (SEC) stays unresolved. The SEC claims that XRP is a safety, resulting in one of many longest-running authorized battles within the crypto {industry}.
The fintech firm secured a partial victory over the SEC final July when a federal court docket in New York dominated that promoting XRP on exchanges and thru algorithms didn’t violate US securities legislation.
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