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Ripple CEO Shades SEC Boss as Company Remains Confident in Victory

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Fri, 09/17/2021 - 18:12
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Alex Dovbnya
Ripple doesn't plan to settle with the SEC
Ripple CEO Shades SEC Boss as Company Remains Confident in Victory
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Ripple CEO Brad Garlinghouse shaded U.S. Securities and Exchange Commission Chairman Gary Gensler on social media.  

In his reply to a 2018 video, in which the SEC boss mentions the company’s key talking point about the need for regulatory clarity, Garlinghouse said that he "loves Twitter."

Ripple attempted to settle with the SEC to no avail, according to a series of tweets posted by Garlinghouse in early January.        

As reported by U.Today, the company pinned its hopes on Gensler reversing the course of the lawsuit.      

Ripple's legal team initially implied that the suit, which was brought by Donald Trump-appointed SEC Chair Jay Clayton during the last days of his tenure, was politically motivated.

Despite being highly knowledgeable about crypto and blockchain, Gensler adopted an even more hawkish stance toward the industry, zeroing in on decentralized finance and stablecoins.

After the SEC chose to push ahead with the Ripple lawsuit on Gensler’s watch, the XRP community became disillusioned by Wall Street's new top cop.

Related
XRP Holders File Class-Action Lawsuit Against Apple

No settlement plans 

The company’s legal team told Fox Business’s Charles Gasparino that Ripple had no plans to settle the lawsuit as the lawyers are confident that are going to win the case based on their “fair notice” defense.

John E Deaton, a lawyer who wants to intervene in the case on behalf of XRP holders, opined that a settlement is “highly unlikely” until the court rules on pending motions.

Garlinghouse and co-founder Chris Larsen filed twin motions to dismiss the lawsuit.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.