Brad Garlinghouse, CEO of Ripple (XRP)In a recent tweet, he emphasized that the company received very strong support from the crypto money industry during the court process.
Ripple (XRP) CEO Says They Are Seeing Unprecedented Support From The Industry
Garlinghouse said that as many as 12 intervening petitions have been filed by crypto industry players in support of Ripple’s case against the U.S. Securities and Exchange Commission.
For those of you keeping count, 12 (!) amici briefs submitted. It’s unprecedented (I’m told) to have this happen at this stage. They each explain – in their own unique way – the irreparable harm the SEC will do to every facet of the US crypto economy if it gets its way. https://t.co/Na9fWq3GvO
— Brad Garlinghouse (@bgarlinghouse) November 3, 2022
Ripple’s boss says all this support is meant to shine a light on the irreparable harm the SEC could possibly do if it manages to win in court.
Ripple on Thursday requested an extension of the deadline until November 30 for all parties to submit their response summaries. Applications to be involved in the lawsuit will be accepted until November 11.
In contrast, Ripple’s general counsel Stuart Alderotyonce again criticized the SEC for trying to stall the litigation process, claiming it needed more time.
An online cryptocurrency service Cryptillian Payment Systemspetitioned District Judge Analisa Torres to intervene. USA’s largest cryptocurrency exchange coinbase and Blockchain Association joined the list of last petitioners.
Coinbase has previously had to make the difficult decision to delist XRP.
Recently, the court approved to accept more interventions to support Ripple.
The SEC’s lawsuit against Ripple is approaching its second year. Ripple CEO Brad Garlinghouse recently predicted that the lawsuit would end in the first half of 2023.
*Not investment advice.
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