In 2020, the SEC accused Ripple and two of its executives of breaking the law by selling unregistered securities. At the time, she issued a press release stating, “We allege that Ripple, Larsen, and Garlinghouse failed to register their ongoing offering and sale of billions of XRP to retail investors, which deprived potential buyers of adequate information about XRP and Ripple’s business.“. Since then, the regulator and the crypto company have been waging a fierce legal battle, which seems endless. That said, it appears that the SEC lawsuit against Ripple is holding back many investors who are keen to collaborate with the crypto company.
Ripple would interest many American investors
Nick Burrafato, a senior Linqto executive, recently made a statement about Ripple. He has in fact reported information that Brad Garlinghouse, the CEO of the crypto company, would have entrusted to him. The latter would have explained to him in particular that several American companies await the conclusion of the case with the SEC for a collaboration. Linqto made a Twitter post on November 21 to inform the crypto community.
“Brad Garlinghouse, CEO of Ripple Labs, told Nick Burrafato, Director of Membership Sales at Linqto, at the 2022 Ripple Swell in London that “Bank of America will gain a competitive advantage when the SEC case against Ripple is settled, using ODL in the market »“, could we read in the tweet.
Thus, Bank of America would patiently wait for the end of the lawsuit between the SEC and Ripple to collaborate with the company. It would like to deploy the on-demand liquidity product created by the XRP issuing company on its market.
Ripple and Bank of America: old partners!
In reality, Bank of America was among the important members of the ODL which were mentioned by Ripple in 2020. Santander was also one of the financial giants cited by the crypto company.
You should know that the ODL is powered by the XRP token. The solution is used in different regions around the world. It is used in the United Kingdom, Argentina, Brazil, United Arab Emirates, Belgium and Singapore, among others.
This year, Ripple’s CEO argued that the crypto firm will emerge victorious from the battle against the SEC. At the same time, legal expert Jeremy Hogan indicated that the value of XRP could rise sharply at the end of the lawsuit. In the meantime, the token is currently trading around $0.37.
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