Ripple CEO Hints At Damning Information In SEC Director’s Emails At WEF Davos

The CEO of Ripple, Brad Garlinghouse, expects that the legal dispute with the Securities and Exchange Commission (SEC) will be resolved within a few months and feels optimistic about a positive outcome.

During his interview with CNBC’s “Squawk Box Europe” on January 18th at the World Economic Forum in Davos, Garlinghouse mentioned some emails from SEC Director Bill Hinman. These emails were ordered to be given to a judge, and Brad Garlinghouse suggested they might contain Damning information.

Garlinghouse said:

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.

Ripple lawsuit To be Solve By June 2023

Brad Garlinghouse stated that the decision in the case could be reached as early as June now that both parties have presented and elaborated on their arguments before the U.S. District Court.

According to the CEO of Ripple, Garlinghouse:

We expect a decision from a judge certainly in 2023. You don’t really have control over when a judge makes their decisions. But I’m optimistic that sometime in the coming single-digit months, we’ll have closure there.

Ripple’s CEO has stated that while the company is open to settling with the SEC, it requires one crucial requirement to be met: that XRP is not considered a security going forward. The SEC and its Chairman Gary Gensler have publicly stated that they view most cryptocurrencies as securities, leaving little room for compromise in the matter.

However, the outcome of the SEC’s case against Ripple over the classification of XRP as a security carries significant consequences for both the company and the broader cryptocurrency market.

A ruling that XRP is a security could result in stricter regulations on Ripple regarding the token. Additionally, it could establish a precedent for many other crypto and blockchain projects that are considered securities.

Garlinghouse emphasized the significance of the lawsuit’s outcome and highlighted that it is crucial not only for Ripple but also for the entire crypto industry in the United States. He said this is something he repeatedly heard echoed at the World Economic Forum in Davos.

He added:

I keep reminding people that outside the United States, crypto is still thriving, Ripple’s still thriving, and we should make sure we’re continuing to engage non-U.S. regulators as well.

Related Reading | 72% Developer Working Outside of Bitcoin & Ethereum: Crypto Landscape Diversifies