Ripple CEO Brad Garlinghouse said in a recent interview with Bloomberg that the company will resolve its years-long lawsuit with the U.S. Securities and Exchange Commission (SEC) “soon.” Ripple’s token, XRP, has surged from $0.3823 in early July, with user activity also increasing on the XRP Ledger.
(Ripple’s legal showdown with the SEC enters final arguments, with results expected in September)
The crypto industry needs a clear path
Garlinghouse also mentioned in an interview that the encryption industry needs a clear path. Blockchain technology can really change the cost and efficiency of financial transactions, so he hopes that this industry can be regulated, just like when the Internet began to develop in the United States. , with clear regulatory protections that allow new startups to be established and capital to flow in, thus making the United States the center of this technology.
He also mentioned that the United Kingdom, Japan, Singapore, and even the European Union have successively proposed encryption regulatory frameworks, but the SEC has used repeated lawsuits, which not only failed to solve the problem, but also spent a lot of money, such as Ripple's lawsuit in three years. It cost $150 million, but not every company can do that.
He found it refreshing to see the Republican party platform leaning towards adding digital assets. Super PACs backed by top cryptocurrency companies have emerged as major funders this election cycle. Of the $160 million in donations raised, 94% came from just four companies: Ripple, Andreessen Horowitz, Coinbase, and Jump Crypto.
(U.S. Republican Party 2024 Party Platform Cryptocurrency: Oppose CBDC and defend people’s digital asset ownership rights)
Garlinghouse also mentioned that the company will "soon" resolve its years-long lawsuit with the U.S. Securities and Exchange Commission (SEC).
XRP rises as user activity increases
Blockchain analytics platform Santiment noted that user activity on Ripple’s XRP Ledger has increased recently, with active addresses and new address creation last Thursday reaching the highest single-day levels since March.
Ripple’s token XRP has also risen from $0.3823 in early July to $0.5944 as of press time, a 13% increase in a single week.
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