Brad Garlinghouse, the Chief Executive Officer at Ripple, has recently sent a message of gratitude to the XRP community members that have stayed resolutely behind Ripple in its ongoing lawsuit filed by the United States Securities and Exchange Commission (SEC).
Since the case began, both Ripple and the SEC had faced numerous challenges. And the XRP community has been throwing their weights behind Ripple when necessary, Ripple’s leadership obviously appreciates.
This community’s effort was also recognized by Ripple CEO at the XRP Las Vegas 2023 meeting. After the meeting, Garlinghouse took to Twitter on the 6th of May to express his gratitude for the immense support from the XRP community since the beginning of the long-standing lawsuit until now.
Brad Garlinghouse tweeted, “Great to meet so many folks from the XRP community at #XRPLasVegas2023 – the camaraderie is remarkable (and an amazing feeling in person vs Twitter!) This community has stood by and supported Team Ripple as we have fought the good fight…I can’t adequately express my gratitude.”
Great to meet so many folks from the XRP community at #XRPLasVegas2023 – the camaraderie is remarkable (and an amazing feeling in person vs Twitter!) This community has stood by and supported Team Ripple as we have fought the good fight…I can’t adequately express my gratitude pic.twitter.com/lb9TCURv3C
— Brad Garlinghouse (@bgarlinghouse) May 6, 2023
Why Ripple May Settle with the SEC Regardless of Outcome
In a tweet a few days ago, John Deaton, the lawyer representing over 75,000 XRP investors highlighted in a series of tweets the reason why Ripple may end up settling with the SEC even if the judgment ends in its favor.
According to Deaton, settling with the SEC can help Ripple avoid the prolonged legal battle and the subsequent costs associated with the case. It will also help the company to focus on its business.
John Deaton noted:
“Quite a few people ask why would Ripple settle if they won. First, I didn’t say Ripple would agree to the same terms of a settlement they would’ve agreed to 2 years ago. It all depends on the ruling itself. Does Coinbase and Kraken immediately relist or wait for an appeal?
“Does Bank of America, a Ripple partner feel comfortable with the decision or wait to see if Judge Torres gets overturned if the SEC appeals her ruling. Remember, the SEC can file a notice of appeal and withdraw it later.
“If the SEC told Ripple it would issue a statement that all future sales of XRP are not securities (not saying it would) and not appeal if Ripple agrees to pay $50M, I believe the certainty and immediate return of liquidity to the U.S., makes Brad Garlinghouse a check in seconds.
“If Judge Torres’ decision is in Ripple’s favor and it facilitates liquidity to return to the U.S. and it causes U.S. businesses to not worry about pissing off the SEC if they use XRP, then that’s a different story.”
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