In the most high-profile case in the crypto world, the judge has yet to rule on the SEC’s appeal of a ruling in Ripple’s favor. Nonetheless, the crypto company’s CEO expressed optimism about the outcome of this lawsuit in a recent interview. He believes that all the chances are on their side.
For Crypto Company, Chances of Winning Increase
Brad Garlinghouse gave an interview to Annabelle Droulers of Bloomerg at the Token2049 conference in Singapore. He had the opportunity to share his views on the SEC’s ongoing appeal. As a reminder, the regulator appealed a court decision affirming that the crypto XRP is not a security. Garlinghouse, however, expressed optimism despite being frustrated with the SEC’s persistence.
A government has unlimited resources to continue fighting an already lost fight, he said in theinterview. On the other hand, the case is very expensive for Ripple, which has spent more than $100 million in legal costs.
Despite difficulties, the CEO of the crypto company nevertheless remains confident about the outcome of the trial. Judge Torres’ decision is very clear, he said. In addition, the SEC’s request for leave to appeal does not even address the status of XRP, the subject of the dispute. Garlinghouse said they will fight to the end because the facts just like the law is on their side.
More than 80% of hires are outside the United States
The Ripple CEO also highlighted the unfriendly environment for crypto in the United States. Due to legal battles by the SEC, Ripple Labs Inc. wants greater regulatory clarity. Besides, the company said 80% of its hires this year will be outside the United States. In other countries like Singapore, Hong Kong, United Kingdom or Dubai, governments are partnering with the crypto industry. Because of this leadership, the rules are clear and the industry is growing, Garlinghouse said.
Meanwhile, the XRP crypto price continues to follow the downtrend following the July 13 rise. Currently, it is trading at $0.4803, close to the 200-day moving average.
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