Ripple (XRP) CEO Brad Garlinghouse told a listener at the DC Fintech Week conference that the SEC’s lawsuit against his company could be settled in the first half of 2023.
Ripple CEO Brad Garlinghouse Announces SEC Litigation Is At Its End
The famous CEO continued his speech as follows:
“By mid-November, I think the case will be fully summarized before the judge. Federal judges work at their own pace… It’s hard to predict.”
Garlinghouse says the case will be settled in the next three or four months with an optimistic forecast. However, it does not rule out that it may take longer than that.
Garlinghouse also said that Ripple may consider a settlement with the SEC, but stressed that XRP should be recognized as a non-secure asset:
“The deal opportunity should start with the idea that XRP is no longer a security.”
However, the SEC chairman cryptocurrencies This creates a puzzle as to how the deal will be made, as the vast majority see it as “securities”.
Garlinghouse recalled that many industry representatives were cynical about Ripple’s warning about the significant impact of the lawsuit on the entire crypto industry. However, he claims that this is no longer the case:
“Today, I think everyone agrees with how important this is to the United States and its leadership in crypto.”
Both Ripple and the SEC petitioned for a summary judgment in September to avoid going to trial. “We think the law is very clear,” Garlinghouse said.
XRP CEO said the court has ordered the SEC to hand over documents related to former senior official William Hinman’s infamous “Ethereum speech”. He stressed that the organizer was told to deliver them on six different occasions. Garlinghouse asked, “What is it in these notes that they are so determined not to share with the world?” she asked.
*Not investment advice.
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