Daily digest market movers: Ripple CEO comments on settlement talks in SEC lawsuit
- Ripple CEO Brad Garlinghouse recently appeared in a Bloomberg interview and shared his thoughts on SEC lawsuit and the process of litigation that the payment firm has spent over $150 million on.
- The executive hinted that the company’s long legal battle with the US financial regulator could settle during a private meeting with the SEC on July 25.
- Throughout the lawsuit, Garlinghouse said XRP is not a security and in her ruling, Judge Analisa Torres upheld the same. XRP is not a security in secondary-market sales or sales across exchange platforms.
- The Ripple CEO says they want “regulation and clarity.”
- Garlinghouse holds SEC Chair Gary Gensler responsible for making the situation worse than it was five years ago, when Ripple seeked clarity from the regulator.
- While the CEO cannot comment on the SEC vs. Ripple lawsuit settlement directly, he was quoted as saying, “we can expect a resolution soon.”
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