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Ripple CEO, Brad Garlinghouse Opens Up About XRP Lawsuit

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Ripple CEO, Brad Garlinghouse Opens Up About XRP Lawsuit

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Ripple has seen 2021 start on the wrong foot. The company is currently facing one of the riskiest lawsuits in the history of the crypto industry.  There is a lot of pessimism going on right now with the future of the company. 

The SEC complaint was filed some weeks before the end of Donald Trump’s term.

In a bid to tackle the situation, the CEO of Ripple, Brad Garlinghouse has tried to avoid a lawsuit with no success.

The pre-trial conference will take place by February. However, Ripple and the SEC are required to file a brief description of the case and their arguments by Feb. 15.

Garlinghouse stated that the company has tried to resolve the problem out of court. However, he added that he will continue to try under Joe Biden’s administration. He said this in a series of tweets.

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The company Ripple now places its hopes on some endorsement from a new, more crypto-friendly administration. It urges future legislators to have a little more common sense when addressing issues affecting the crypto industry.

This common sense is something that other industry players are also hoping for. VanEck, for example, has resubmitted its application for a Bitcoin ETF now that a new administration will be responsible for evaluating the case.

Ripple Addressed Other Hot Topics

Garlinghouse also shed light on other topics like the allegation that Ripple paid exchanges to list XRP. 

Ripple’s CEO also touched on other hot topics, such as allegations that Ripple paid exchanges to list XRP. He further explained that in many cases, exchanges are taking preventative rather than definitive measures. He explained that there is a difference between delisting and halting, so the decision of some exchanges “comes as no surprise.”

Garlinghouse also talked about the controversy with Tetragon, a major Ripple investor. He criticized its decision to sue Ripple, making things even more difficult for the company. 

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