The CEO of Ripple Brad Garlinghouse has clarified five issues surrounding the lawsuit filed against the company by the SEC, which alleges that Ripple’s crypto XRP is unregistered security.
Garlinghouse who did a thread on Twitter to answer five questions said that Ripple had earlier put in the effort to settle with the SEC before the lawsuit became official and will continue to try.
“Can’t get into specifics, but know we tried – and will continue to try w/ the new administration – to resolve this in a way so the XRP community can continue innovating, consumers are protected and orderly markets are preserved”, he tweeted.
Reacting to if he paid exchanges to list XRP, Garlinghouse did not give a definite yes or no answer, but stated that ‘Ripple has no control over where XRP is listed, who owns it, etc.’
To mitigate the tension created by many exchanges announcements to stop the trading of XRP, he said that most exchanges are only halting trading and not stopping it.
“Delisting and halting are 2 separate things – most are halting trading. With 8 different govt agencies, each with their own (and sometimes opposing) views of crypto, U.S. market participants are facing conflicting policies and no surprise, some act conservatively,” he added.
Bitcoin has crossed the $40k mark to set a new all-time record. The current price of bitcoin is $41,093.34, climbing up by 10.36% in the last 24 hours. Bitcoin has a current market cap of $764.08B and market volume of $81.52B. In the last 24 hours, bitcoin has dropped to $36,498.44, and has experienced a $41,478.44 high. Currently, 18,594,437.5 bitcoins are in circulation.
Stats and Image from Coin Desk
Responding to why he seems silent on the case, Ripple’s CEO said the ‘legal process can be slow’, however, some background works are happening.
He also added that it is lawful to provide some customers with incentives, to build payment network. He said thins answering if he paid customers to use XRP.
He expressed confidence that Ripple still has real shareholders that have faith in the company.
“Yes, we have real shareholders. That is how you own Ripple equity – buying our stock, not buying XRP,” he said.