Resolution In Ripple Vs. SEC Weeks Away?
Ripple Labs’ ($XRP) CEO Brad Garlinghouse is anticipating a decision on its ongoing legal battle with the SEC within the next few weeks. 😱
Recent developments in the case, particularly regarding the SEC’s former Director of Corporate Finance William Hinman and his comments about Ethereum ($ETH), have led Garlinghouse to expect a swift resolution.
Garlinghouse mentioned in a recent interview with SCB 10X that Judge Torres’ ruling against the SEC to redact certain information – the Hinman speech – puts the timeline of a resolution in weeks, not months.
Another win for transparency! Unredacted Hinman emails to be publicly available soon – stay tuned as the lawyers work through the mechanics to make that happen. https://t.co/o6puPypRHd https://t.co/qmaLVeQaP8
— Brad Garlinghouse (@bgarlinghouse) May 16, 2023
The e-mails associated with the Hinman speech will be made public on June 13th.
The outcome of this case is predicted to have significant ramifications on the broader cryptocurrency industry. 🔥
Ripple Hasn’t Stopped Expanding
The ongoing lawsuit, however, has not dampened Ripple’s global growth ambitions. The company has been vocal about its plans to expand through acquisitions and recently acquired shares in the European crypto exchange Bitstamp.
The transaction was revealed in Galaxy Digital’s latest quarterly report, which confirmed advising crypto hedge fund Pantera Capital on the sale of Bitstamp shares to Ripple.
The acquisition aligns with Ripple’s international expansion strategy, particularly in regions like the UAE and Switzerland that provide a clear regulatory environment for crypto-based businesses. Notably, this move has sparked industry speculation about Ripple’s plans, with conjectures around whether it intends to develop further its On-Demand Liquidity (ODL) offering or focus on its Liquidity Hub (LH) solution.
The company continues to hire predominantly outside the US and is actively leveraging its billion-dollar reserves to fuel growth. 🪙