Brad Garlinghouse, CEO of the Ripple, gave an interview to Bloomberg, where he commented on the legal battle with the SEC. Of the interesting:
Ripple’s litigation costs are$150M. The amount is decent, but it has already paid off due to the growth of cryptocurrency quotes of the same name.
Ripple is ready to go to the US Supreme Court. Recall that the judge in the “SEC vs Ripple process” ruled to partially reject the SEC’s claim that the cryptocurrency Ripple is a security. A partial success was reached: coins traded on the stock exchange are not securities, while coins received by investors directly from developers are securities. The SEC was not satisfied with the decision and is looking for opportunities to continue the process.
The confidence of Ripple, who refused compromises and was ready to fight to the end, is sufficient.
Admittedly, the SEC is not at the best time - in the courts one after another followed by severe defeats. A possible victory over Ripple would mend the reputation of failure, so the commission has an incentive to continue the war.
We’ll be watching with interest.
