Ripple CEO Brad Garlinghouse made a series of Twitter posts and revealed that his company managed to achieve its best year to date despite its ongoing legal battle with the SEC.
One year ago today, the @SECgov filed a lawsuit against @Ripple, @chrislarsenSF and me, alleging that XRP – a public crypto that has been trading on the open market since 2013 – should have been registered as a security. 1/10
— Brad Garlinghouse (@bgarlinghouse) December 22, 2021
Garlinghouse claimed that the XRP-powered On-Demand Liquidity (ODL) solution now accounts for a quarter of the dollar-denominated volume processed by the RippleNet network. ODL transactions have increased 25 times since the third quarter of 2020.
Ripple has also opened new ODL corridors in Japan and UAE. On top of that, Bhutan and Palau have partnered with a distributed ledger technology provider to help them launch their national digital currencies. In March, Ripple announced the launch of a special version of the XRP Ledger designed specifically for central banks.
Garlinghouse believes the decline of “maximalism” is a positive development for the industry. He considers 2021 to be a turning point not only for Ripple, but for the overall crypto industry as well.
As it is known, the SEC took Ripple to court exactly one year ago. In his lengthy Twitter thread, Garlinghouse once again targeted regulators, reiterating that his case was an attack on the entire cryptocurrency industry.
On top of that, the Ripple boss once again asked for a level playing field after claiming that the second-largest cryptocurrency was able to surpass XRP due to regulatory clarity:
“This sector should not be penalized for demanding legal clarity and regulation applied consistently with its level playing field.”