Brad Garlinghouse Congratulates Ripple Team for Reaching Current Point When Verdict May Be on Horizon – Crypto News – Crypto News
Connect with us
Brad Garlinghouse Congratulates Ripple Team for Reaching Current Point When Verdict May Be on Horizon Brad Garlinghouse Congratulates Ripple Team for Reaching Current Point When Verdict May Be on Horizon

Cryptocurrency

Brad Garlinghouse Congratulates Ripple Team for Reaching Current Point When Verdict May Be on Horizon – Crypto News

Published

3 years ago

on

Yuri Molchan

Ripple CEO has posted a crucial tweet now that Ripple has filed its redacted reply to SEC in court

Chief of Ripple Labs Brad Garlinghouse has taken to Twitter to comment on Ripple’s submission of a redacted reply to SEC’s opposition to Ripple’s motion for summary judgment,

Garlinghouse stressed what he stated on the very first day when the SEC’slawsuit against Ripple began – Ripple will conduct an aggressive fight with the US securities regulator in order to make the SEC roll out clear regulatory rules for the entire crypto space in the United States of America.

He also congratulated the legal team of Ripple for getting to the current point of submitting the motion for summary judgment earlier this fall.

Garlinghouse posted this in response to a tweet by Stuart Alderoty, Ripple’s general counsel. In his turn, he shared a tweet from lawyer James Filan, who shared via Dropbox an access to the document filed by Ripple.

As reported by U.Today earlier, both sides of the lawsuit, Ripple and the SEC, filed motions for summary judgment back in September in an attempt to avoid going to a trial. At the end of October, Ripple Labs submitted an opposition to the SEC’s motion for summary judgment, in which Ripple stated that the regulator cannot prove that owners of XRP tokens expected profits from Ripple’s promotional efforts.

The case of the SEC against Ripple was started in late December 2020 by SEC’s chair at the moment Jay Clayton, claiming that Ripple-affiliated token XRP was in fact an unregistered security. The legal complaint also stated that Ripple labs, Brad Garlinghouse and Chris Larsen sold XRP to institutional investors, earning nearly $2 billion on that. Clayton quit his position in the SEC on the next day and is now working in the crypto space, strange as it may sound.

Earlier, Garlinghouse tweeted that he expects the case to be resolved at the beginning of next year.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending