Ripple CEO addresses SEC lawsuit, alleges Tetragon of exploitation

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Brad Garlinghouse
Brad Garlinghouse

Ripple CEO Brad Garlinghouse answered questions regarding the SEC’s lawsuit against the company on Twitter. He addressed five key areas in the case including investors confidence in the company, the delisting/halting of XRP on trading platform, incentives to use XRP, the filing of initial response to the SEC, and efforts to settle the case.

On December 22, the SEC sued Ripple, its CEO Garlinghouse, and Chairman Chris Larsen for allegedly conducting an unregistered initial coin offering (ICO). They allegedly  unlawfully raised $1.3 billion from investors by selling unregistered XRP digital tokens, which the Commission considers as securities. The pre-trial hearing on the case is set on February 2.  

In a series of tweets addressing questions regarding the SEC lawsuit, Garlinghouse assured Ripple users and investors that the company’s legal team headed by its General Counsel Stuart Alderoty is committed to the case.  He said they will  not give up the fight, they are looking forward to their day in court, and will be “engaging with the new SEC leadership once appointed.”