Ripple CEO Brad Garlinghouse
Brad Garlinghouse is a prominent figure in the crypto world, serving as the CEO of Ripple Labs. He has a strong background in the tech industry, having worked at companies like AOL and Yahoo! before joining Ripple. His leadership at Ripple has been instrumental in shaping the company’s direction and growth.
Recently, Brad Garlinghouse shared the company’s plan in response to the ongoing lawsuit with the U.S. SEC. The parties are working on a briefing schedule regarding the SEC’s claim of $770 million in disgorgement for alleged Section 5 violations in Ripple’s institutional XRP sales.
Ripple Gears Up for Legal Battle
Ripple is preparing to challenge the SEC’s significant financial claim, marking a crucial phase in the legal battle. Legal experts are referencing the Morrison v. National Australia Bank U.S. Supreme Court case, highlighting its potential impact on the sovereign rights of foreign nations.
Jeremy Hogan Sees Some New Spark
Lawyer Jeremy Hogan finds the case intriguing, suggesting that Ripple’s sales must have occurred “in the U.S.” or on a U.S. exchange, aligning with the Supreme Court’s stance. The uncertainty lies in how the SEC plans to proceed and whether it might extend its jurisdiction beyond U.S. borders.
Some More Twist & Turns…
However, lawyer James Farell points out that Judge Torres has already addressed this matter by rejecting Ripple’s argument in the motion to dismiss the SEC v. Ripple lawsuit. Pro-XRP lawyer Bill Morgan chimed in, expressing skepticism about the likelihood of foreign countries intervening.
SECs May Get Disappointed on Settlement Amount
The core debate centers on whether Ripple’s activities had a sufficient nexus with the U.S. to warrant SEC intervention. As both parties engage in discussions, there is speculation about a potential settlement, possibly involving a reduction in the SEC’s requested disgorgement amount.
What Makes Him Sure of the Win?
Charting the winning odds of the case, he highlights a legal victory for Binance in the Anderson v. Binance case, which restricted the application of U.S. securities laws outside the United States. He further suggests that this legal precedent could benefit Ripple, indicating a connection between Binance’s case outcome and potential implications for Ripple in its ongoing legal battle.
Hot Take
The legal battle between Ripple and the SEC is heating up, with significant implications for both parties and potentially for cryptocurrency regulation as a whole.
By
By
By
By