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Ripple CEO Ready to Take XRP Fight to Supreme Court

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Wed, 8/11/2023 - 17:36
Ripple CEO Ready to Take XRP Fight to Supreme Court
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Ripple CEO Brad Garlinghouse has stated his readiness to take the ongoing legal battle with the Securities and Exchange Commission (SEC) to the highest judicial authority in the United States. In a recent interview that took place during DC Fintech Week 2023, Garlinghouse expressed his resolve, saying, "I think that definitely could happen. I mean, certainly. And we've said this publicly. We are in it till the end." 

The statement follows the SEC's indications that it might appeal the case, potentially escalating the dispute over XRP to the Supreme Court.

Confidence unshaken

Garlinghouse revealed that he was offered a chance to settle the case out of court, but this offer has since been rescinded "with prejudice," which he interprets as a clear signal of Ripple's upper hand. "That feels really good. It feels like...There's no chance they were going to win that. Pushing that the way they did, it just feels like the SEC should be part of the solution," he stated. 

Despite acknowledging the first quarter of 2021 as a challenging time due to uncertainty surrounding the company's future, Garlinghouse pointed out that Ripple has since experienced its most successful years. 

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He suggested a need for accountability within the SEC, alluding to the revealing "Hinman emails" uncovered during litigation, which have raised questions about the commission's role in the industry.

Looking beyond U.S. shores

The Ripple CEO also commented on the United States' position in the global cryptocurrency landscape, suggesting that the country is "stuck" in comparison to other nations. Garlinghouse praised Japan, Switzerland, Singapore, the UK, and Australia for their clear regulatory frameworks, which attract capital investments and entrepreneurs. 

He credits these clear regulations for the "great" institutional adoption of cryptocurrencies seen outside the U.S. Garlinghouse's comments come at a time when the U.S. is grappling with establishing a regulatory framework for the burgeoning crypto industry.

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