Ripple CEO Brad Garlinghouse made key statements about XRP in his speech at DC Fintech Week.
Amid expectations that the XRP price will rise massively, tensions between Ripple and the SEC continue to rise. The US regulatory agency SEC continues to insist that Ripple is selling unregistered securities. Although the court ruled that XRP purchased by individual investors is not a security, sales to institutional investors remain unclear.
Commenting on the latest development, Ripple CEO Garlinghouse admitted that the company should have contacted US regulators long ago. Garling House, “Now we’re trying to make up for lost time.” he said.
The XRP issue remains on the agenda.
Ripple’s partial victory in the ongoing court case with the SEC boosted the price of XRP. The SEC appeal changed things and caused the XRP price to drop. XRP investors are caught in uncertainty amid legal proceedings.
The Ripple side says it will continue to fight despite all efforts by the SEC and will not target XRP investors. On the other hand, the company continues its work in the field of blockchain.
Ripple CEO Brad Garlinghouse expressed regret for not cooperating with regulators sooner. The CEO noted the following statements;
“Looking back, I regret it. “I think we made a mistake by not stepping in sooner and we’re trying to make up for some lost time.”
Garlinghouse addressed the crowd during the speech. The Ripple CEO said that the US lags behind other countries when it comes to crypto regulations. Garlinghouse targeted SEC Chairman Gary Gensler. “Gensler is waging a reign of terror against the industry.” he said.
Citing the FTX events that rocked the agenda, starring Sam Bankman Fried, Garlinghouse said the illegality in question hurt the crypto industry and Ripple.
“XRP Will Be Opened Up to Corporates”
Garlinghouse stated that institutional demand is shifting to the crypto industry and that XRP will soon be open to various windows. The CEO uttered the following sentences:
“Interest in XRP has increased. You’ve seen two or three ETF applications around XRP. “I think it’s inevitable that you’ll see an XRP ETF, not just Bitcoin and Ether.”
Garlinghouse, which said Ripple is active in political donations, has donated $50 million so far to Fairshake PAC, which supports candidates from both parties.
This article does not contain investment advice or recommendations. Every investment and trading venture involves risk, and readers should do their own research when making decisions.