Ripple team prepares for court hearings against the SEC
Garlinghouse enlists investor support
Ripple CEO admitted that he paid users to use XRP
International consortium of news organizations developing transparency standards.
Ripple CEO Brad Garlinghouse answered 5 key questions about the future of the company, and also talked about preparing for litigation.
The Calm Before the Storm: Ripple Prepares Tough SEC Response
At the end of December, it became known about the intention of the US Securities Commission (SEC) to file a lawsuit against Ripple “for the unauthorized sale of unregistered securities.” Since then, representatives of Ripple have hardly commented on the situation, and only now the co-founder and CEO of the company Brad Garlinghouse decided to answer the five most important questions for the community on his Twitter page. Ripple is seriously preparing for the upcoming litigation and intends to give a tough response to all SEC allegations, Garlinghouse said..
Why Ripple disagreed with SEC allegations?
In response to this question, Garlinghouse stressed that he considers all the SEC’s accusations unfounded. He also noted that the company does not abandon its attempts to resolve this issue peacefully with the new presidential administration. Recall that Gary Gensler, who previously expressed support for the cryptocurrency industry, became the new adviser to the US President..
When token As the use of cryptocurrencies increases, new types of tokens are emerging. They can represent value or something intangible like voices. Two … More XRP will reappear on exchanges?
Galinghaus could not answer this question unambiguously. He stressed that the XRP token is in the top 5 cryptocurrencies in terms of capitalization and is distributed around the world..
“Delisting and stopping trading are two different things, most of the exchanges stop trading. In the US, there are eight different government agencies, each with their own (and sometimes opposing) views on cryptocurrency, so market participants face conflicting policies, and it is not surprising that some are acting conservatively, ”wrote Galinghaus.
Recall that several cryptocurrency exchanges announced the delisting of the XRP token after receiving information about the pending lawsuit. In particular, Binance.US, Coinbase refused to trade XRP. Bitcoin enthusiast Tony Weiss has already voiced his assumption that other major exchanges will remove the XRP token in the near future..
Why don’t you respond to SEC charges?
Ripple XRP “RISK Of Making The Same MISTAKE Again…” Brad Garlinghouse
The lack of public statements by Ripple’s management regarding the impending trial is making the crypto community nervous. However, Garlinghouse noted that silence usually occurs before the storm, and while nothing seems to be happening, a whole team of specialists prepares to respond to the SEC..
Also, the Ripple startup has already enlisted the support of investors who filed a counter-lawsuit against the SEC “for wrongfully accusing the company”.
Do investors believe in Ripple?
SEC lawsuit will cripple crypto: Ripple CEO
Brad Garlinghouse is confident that investors believe in a bright future for Ripple and continue to buy the company’s tokens.
“We are disappointed that Tetragon (which owns 1.5% of Ripple) is trying to gain an unfair advantage by taking advantage of this situation,” wrote the CEO of Ripple.
Earlier, BeInCrypto reported that UK-based investment firm Tetragon Financial Group is suing Ripple over a lawsuit filed by the US Securities and Exchange Commission (SEC). According to the lawsuit, Tetragon intends to “exercise its contractual right to demand a buyback from Ripple” of its series C preferred shares. The investor also asks the court to block Ripple’s access to the use of any cash or other liquid assets until payment is made..
You paid customers to use XRP?
Garlinghouse did not hide the fact that it gave some users, mostly pioneers, certain privileges. Further, the CEO of Ripple emphasized the importance of the created payment system for the whole world.
Ripple XRP VERY IMPORTANT REMINDER!!! Brad Garlinghouse Prepares For The SEC!
“We’ve created a product that is FIRST of its kind – integrating new infrastructure is costly. ODL with XRP solves real-world cost, speed and settlement issues and has proven billions of dollars worth of it, ”Garlinghouse wrote..
As a reminder, the first court hearings are scheduled for February 22, 2021..
Read more about the SEC’s litigation against Ripple here.
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