Ripple CTO David Schwartz clarifies Jed McCaleb’s exclusion from the SEC lawsuit against Ripple’s current executives.
The SEC originally targeted Brad Garlinghouse and Chris Larsen, alleging $1.3 billion raised through unregistered XRP sales.
The SEC is reviving the aiding and abetting claims against Garlinghouse and Larsen.
Ripple CTO David Schwartz addressed questions on why Ripple co-founder Jed McCaleb was excluded from the SEC’s lawsuit. In a post on X, crypto commentator “Digital Asset Investor” publicly questioned McCaleb’s exclusion from the case. The inquiry followed a post by Andrew De Vilbis, who shared McCaleb’s vision for Stellar, the blockchain project McCaleb co-founded after leaving Ripple.
Joining the conversation, Schwartz suggested that McCaleb’s departure from Ripple years earlier and his lack of ongoing involvement may have influenced the SEC’s decision. “Including him in the suit wouldn’t provide any of the leverage that the SEC was looking for,” he stated.
You'd have to ask the SEC that. My speculation is that because he wasn't currently holding any position at Ripple, including him in the suit wouldn't provide any …
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