Connect with us
Active Currencies 14429
Market Cap $2,635,471,169,670.30
Bitcoin Share 50.21%
24h Market Cap Change $-3.50

SEC lawsuit verdict by June? Ripple CEO Brad Garlinghouse hints at…

2min Read

Share this article

  • Ripple CEO Brad Garlinghouse believed that the verdict in the lawsuit against the SEC may come by June 2023.
  • The CEO criticized the actions of the SEC and described their conduct as “embarrassing.”

The ongoing lawsuit between Ripple and the U.S. Securities and Exchange Commission may end later this year. The insights provided by Ripple’s CEO Brad Garlinghouse have revealed that the lawsuit, which started over two years ago, may get a verdict within “single-digit months.”

Ripple v. SEC verdict in June?

In a recent interview with CNBC, Brad Garlinghouse stated that he hoped for a verdict in the first half of 2023. He said:

“We’re optimistic that this will certainly be resolved in 2023, and maybe [in] the first half. So, we’ll see how it plays out from here. But I feel very good about where we are relative to the law and the facts.”

The CEO and his blockchain firm have maintained that Ripple [XRP] was not a security. Garlinghouse revealed that settling the case with the SEC is on the table. However, such a settlement would have to be on a “go-forward basis”, with the security status of XRP being non-negotiable. Although possible, a settlement seemed unlikely. 

‘Embarrassing’ conduct of the SEC

In a separate discussion with CNBC, Brad Garlinghouse reflected on the SEC’s behavior over the past two years regarding the lawsuit. He disapproved of the regulator’s actions and described their conduct as “embarrassing.” 

Garlinghouse believed that they were on the winning side since the beginning. He highlighted the importance of the outcome of this case in his favor, given the precedent it would set for the entire crypto industry in the US. 

Moreover, popular crypto lawyer John Deaton shared his outlook on this case on 17 January. He claimed that the verdict would be in Ripple’s favor as well. 

Share

Saman Waris works as a News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins. A graduate in history, Saman worked the sports beat before diving into crypto. Prior to joining AMBCrypto 2 years ago, Saman was a News Editor at Sportskeeda. This was preceded by her stint as Editor-in-Chief at EssentiallySports.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.