Ripple CEO tries to make peace with the SEC
According to Brad Garlinghouse, it was not possible to reach a consensus and settle the case out of court
In December 2020, a $1.3 billion lawsuit was filed against the Ripple management for the illegal sale of XRP tokens. This collapsed the price of the cryptocurrency and greatly damaged the project.
Q: Why didn’t Ripple settle with the SEC?— Brad Garlinghouse (@bgarlinghouse) January 7, 2021
Can’t get into specifics, but know we tried - and will continue to try w/ the new administration - to resolve this in a way so the XRP community can continue innovating, consumers are protected and orderly markets are preserved. 2/10
In a tweet, Garlinghouse mentioned today that the company tried to resolve the issue, but failed. However, they will make new attempts and interact with the new administration.
According to the creator of Ripple, this must be done in order to maintain and further develop the project, innovate and preserve orderly markets.
When asked whether the creators of the project used a paid placement of their token on the exchange, Garlinhouse noted that “Ripple does not control where XRP is located and who owns it”.
Additional questions will be answered in February when the first hearing takes place. The CEO of Ripple recalled that despite the long period without good news, not everything is visible on the surface.
There's a lot going on behind the scenes. So, in a couple of weeks, new information will appear.