Brad Garlinghouse, the CEO of Ripple, recently shared his positive outlook on Ripple’s ongoing legal battle with the Securities and Exchange Commission (SEC). He expressed his belief that Ripple will ultimately emerge victorious and stated that the cryptocurrency industry as a whole will overcome regulatory obstacles in the long run. These statements were made in a recent video.
Garlinghouse emphasized that superior technologies always prevail in the long term. According to him, the SEC’s attempts to impede crypto activities will ultimately fail. He highlighted that the actions taken by the SEC against the crypto industry pale in comparison to its significant growth in recent years.
During the same occasion, Garlinghouse expressed his utmost optimism about the future of the cryptocurrency sector. He predicted that the recent events surrounding Ripple and the SEC will seem insignificant compared to the industry’s advancements over the next two decades.
In a breaking update, Garlinghouse confidently stated that he believes Ripple will win the case against the SEC. He shared this news on Twitter, further fueling speculation about the outcome of the legal battle.
It is important to recall that in a previous interview with CNBC, Garlinghouse projected that the cryptocurrency market capitalization has the potential to double by the end of 2024. He estimated that the overall market capitalization of the cryptocurrency market will reach $5 trillion by 2024. Currently, the global market capitalization of the cryptocurrency industry stands at around $2.69 trillion.
In response to Judge Analisa Torres’ decision in the case against Ripple Labs, the SEC criticized the ruling, stating that no other court has followed suit. This statement was made as part of the SEC’s argument against Coinbase’s request for an appeal.
It is noteworthy that Judge Torres had previously determined that programmatic sales of XRP through exchanges did not constitute securities offerings. Additionally, she ruled that XRP itself is not a security, and therefore, sales on exchanges do not fall under investment contracts.
The SEC’s recent lawsuit against Coinbase claims that the platform acts as an unregistered intermediary for “crypto asset securities.” Contrary to Judge Torres’ ruling, the SEC maintains that digital assets listed on Coinbase are securities, and sales on the platform are considered investment contracts.
Disclaimer: The opinions expressed in this article, whether by the author or individuals mentioned, are solely for informational purposes and do not constitute financial, investment, or any other form of advice. Investing or trading cryptocurrencies carries the risk of financial loss.
Editor’s Choice: A former regulator expert predicts that the Ripple vs SEC case will inevitably be taken to the second circuit. The outcome of this legal battle continues to be a topic of interest and speculation.
