2023-1-24 18:09 |
Brad Garlinghouse, the CEO of Ripple, has made some notable comments about Ripple’s ongoing case with the U.S. Securities and Exchange Commission (SEC).
As the 2023 World Economic Forum kicked off in Davos, Garlinghouse, amongst the many cryptocurrency CEOs present at the summit, spoke about emails from the SEC Director, Bill Hinman.
Garlinghouse explains that the emails, which will soon be handed over to the judge, who ordered that they be turned over to him, might help give Ripple another upper hand in the ongoing case.
Garlinghouse asserts with certainty that said emails might be harmful to the SEC’s case, as the content contained in the emails could be condemnatory.
In his words;
“When those come to light, I think that we will see more kind of like ‘How is it possible the SEC decided to bring a case against Ripple given what they were saying within their walls.”
He also expresses optimism about the case closing in its favour. He added that although the judges might spend a lot of time on the case, he’s sure of a resolution within the first half of 2023.
“Judges take however long the judges will take. 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 said while speaking to CNBC at Davos.
Ongoing lawsuit fails to deter Ripple from hitting new milestonesEven though market players have maintained that the ongoing SEC vs Ripple case has cost Ripple a lot, the network can still boast about hitting some notable milestones.
Garlinghouse noted that Ripple still sits on billions of dollars, thanks to its revenue skyrocketing in the past years.
Ripple has partnered with a handful of leading companies over the past years. More recently, Ripple partnered with Palau to launch its national stablecoin.
With Ripple scoring major wins, despite the ongoing lawsuit, market players are predicting that XRP is primed for a bullish eruption once the case comes to a close, especially if the verdict plays in Ripple’s favour.
However, if Ripple doesn’t emerge victorious, key figures like attorney John Deaton sights the downfall of many other cryptocurrencies and crypto platforms.
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