During a recent interview on CNBC International Ripple Its CEO, Brad Garlinghouse, has suggested that the problematic FTX exchange is a fraudulent scheme.
Ripple executives, cryptocurrency explained that his industry is currently in the formative stages and therefore attracts all kinds of people, including scammers.
Ripple CEO: “Crypto Industry Needs to Mature”
“Cryptocurrencies have never been rosy,” Garlinghouse said. “I think crypto as an industry needs to mature,” he said.
He claimed that Ripple was “extremely” transparent, despite not being regulated as a public company.
Talking about the massive legal battle with the SEC, Garlinghouse accused the regulator of trying to “seize power” with enforcement actions.
Garlinghouse added that the case will appear in court by the end of November.
Crypto has never just been sunshine and roses and it’s an industry that needs to mature, Ripple CEO @bgarlinghouse said. pic.twitter.com/JkL2NBHBNN
— CNBC International (@CNBCi) November 16, 2022
Garlinghouse also made some statements regarding the end date of the lawsuit between Ripple and the SEC:
“The real question is how long it will take for a federal judge to rule on this case. It may take two months, it may take six months. We don’t know.”
Ripple CEO once again expressed his prediction that this case, which is very important for XRP, will be resolved in the first half of 2023.
U.S. District Court Judge Analisa Torres recently authorized several companies and organizations to formally present amicus briefings in support of defendants or plaintiffs.
The SEC sued Ripple in December 2020 for alleged illegal sales of XRP.
*Not investment advice.
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