XRP Is Positioned For A Bullish Explosion As Ripple’s Garlinghouse Believes The SEC Case Will Reveal The Truth.
The CEO of the financial technology startup Ripple Labs, Brad Garlinghouse, has indicated optimism that the SEC vs. Ripple dispute would be resolved this year, saying that a definitive judgement might come by June 30.
On the margins of the World Economic Forum in Davos, the Ripple CEO expressed satisfaction with his team’s defensive performance. He said that they were open to a resolution with the U.S. Securities and Exchange Commission (SEC), despite the regulator’s persistent insistence that the vast majority of cryptocurrencies are securities.
“The case briefing is now complete. In an interview with CNBC, Brad expressed optimism that the issue would be addressed in 2023, maybe in the first half. “Therefore, we will see how it plays out with her, but I feel very happy about where we are legally and factually.”
In 2020, the SEC filed a lawsuit against Garlinghouse, Ripple, and the company’s co-founder, Chris Larsen, for selling $1.3 billion worth of XRP in violation of US securities laws. He said that a resolution would not just be crucial for Ripple but also for the whole cryptocurrency business in the United States.
Additionally, Garlinghouse commented on the present status of the cryptocurrency market, stating that he is long-term positive on Bitcoin, Ether, and other cryptocurrencies.
“I have avoided making short-term price predictions for Bitcoin and cryptocurrencies in general. “However, I am highly positive over the long haul,” Brad remarked.
According to him, neither the recent FTX crisis nor the current instability among crypto businesses like as DCG and Gemini could prevent the long-term success of the cryptocurrency industry.
“I believe you will continue to hear noise around DGC and Gemini…It seems that might have a positive outcome, although it is difficult to say…I believe that the fact that you are seeing certain developments in the crypto realm might be beneficial for the sector in the long run.” He moved on.
When asked what he believed would be the most influential factor in the success of cryptocurrencies, Brad, 51, said that it would be the emphasis on “businesses that are addressing genuine issues” and the development of rules for the crypto industry.
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