Big Breaking: SEC Drops XRP Case, Ripple CEO Confirms

The post Big Breaking: SEC Drops XRP Case, Ripple CEO Confirms appeared first on Coinpedia Fintech News

After more than four years of legal battles, the U.S. Securities and Exchange Commission (SEC) has officially dropped its lawsuit against Ripple Labs (pending vote of the commission). The case, which was filed in December 2020, accused Ripple of conducting an unregistered securities offering by selling XRP .

Ripple’s CEO, brad garlinghouse brad garlinghouse Brad Garlinghouse is the CEO of the financial technology company Ripple Labs, he is an extremely popular name across the global crypto landscape. He has previously served as the CEO of Hightail, a file-sharing service, and is also an active angel investor. He joined Ripple as COO in April 2015, answering to the CEO and prime supporter, Chris Larsen. He was elevated to CEO in December 2016. Initially, he worked at AOL and Yahoo! From 2003 to 2008, he filled in as Senior Vice President at Yahoo!, where he ran its Homepage, Flickr, Yahoo! Mail, and Yahoo! Courier divisions. While at Yahoo!, he wrote an inner update known as the "Peanut Butter Manifesto," requiring the organization to zero in on its core business instead of extending itself excessively far, much like peanut butter. Details: Organization: RippleLocation: United StatesEducation: MBA from Harvard Business School and BA from The University of KansasSkills: Venture capital and Startups Experience: CEO at Ripplefrom from Jan 2017 - Present ·President and COO at Ripple logo from Apr 2015 - Dec 2016Board Member at Animoto from 2012 - Dec 2017Tonic Health, an R1 company logoBoard Member at Tonic Health from 2011-2016Board Member at Ancestry from 2013 - 2016CEO at Hightail from May 2012 - Sep 2014 FAQs Who is Brad Garlinghouse?The CEO of Ripple, a financial technology business that specializes in blockchain technology and the cryptocurrency XRP, is Brad Garlinghouse. He has played a significant role in advancing cross-border payments using blockchain technology.What is Brad Garlinghouse's role at Ripple?Garlinghouse is in charge of Ripple's expansion and strategic direction in his capacity as CEO. Ripple has concentrated on using blockchain technology to enhance international payment networks under his direction. Entrepreneur Investor Chief Executive Officer Board Member expressed relief and pride as he reflected on the outcome. “It’s over,” Garlinghouse said, explaining how the case marked a pivotal moment in the ongoing struggle for clarity in the cryptocurrency industry. “Looking back on four years ago, it’s clear to me that this case was flawed from the start. It was the first major shot fired in the war against crypto.”

Garlinghouse went on to explain that, while Ripple faced huge challenges, the company always believed it was on the right side of history. “I knew we weren’t on the wrong side of the law, and I believed we’d ultimately be proven right. Today’s outcome is a victory for innovation and a long-overdue surrender by the SEC under Chairman Gary Gensler.”

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This decision is seen as a major win for the cryptocurrency industry, as it represents the first successful fight against the SEC’s broad interpretation of securities laws applied to digital assets. Garlinghouse credited Ripple’s resources, determination, and grit for pushing back against regulatory agencies.

For many in the crypto community, the SEC’s action was seen as an effort to intimidate the industry, using arguments that they claimed were meant to protect investors but ultimately did more harm than good. As the crypto industry continues to grow, Ripple’s victory signals a turning point in regulatory efforts, reinforcing the need for clearer guidelines that support innovation without stifling progress.

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