Ripple CEO Provides Update on SEC Case Conclusion Date and XRP’s Fate

Ripple CEO Brad Garlinghouse shares promising update on XRP-SEC case as court decides to release Hinman documents.

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Ripple CEO Garlinghouse anticipates case conclusion in the next week.

Ripple CEO Brad Garlinghouse, who participated in the ReDeFine Tomorrow 2023 summit focused on Web3 and DeFi, shared intriguing remarks about the progress of the case.

According to Garlinghouse, he believes that a court decision will be reached this year, potentially in the coming weeks rather than months.

When Garlinghouse mentioned his belief that the court decision would be revealed in the upcoming weeks, the moderator of the event expressed visible astonishment.

Also Read This Related: Ripple President Reveals Motive Behind Bitstamp Acquisition

“During his speech, the Ripple CEO also discussed the Hinman documents and highlighted that they are scheduled to be released by June 13. Garlinghouse emphasized the significance of this development in terms of transparency and presented it as evidence that XRP was not given prior notice by the SEC regarding its potential classification as a security, which goes against disclosure principles”.

Garlinghouse expressed that Ripple is advocating for the entire cryptocurrency industry and mentioned the substantial financial investment they have made in this endeavor.

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The Ripple-SEC lawsuit involves the U.S. Securities and Exchange Commission (SEC) and Ripple Labs Inc., a fintech company responsible for creating XRP. The SEC claims that Ripple and its executives, including Brad Garlinghouse, conducted $1.3 billion worth of unregistered securities sales by selling XRP, which the SEC classifies as a security according to U.S. law.

Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.

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