Ripple lawsuit against the founders has been dropped. However, the legal process for corporate sales of XRP will continue. In other words, the match should end with a score of 4-0 or 3-1. The Ripple side, which has achieved three major successes in the legal battle, has ensured that XRP Coin reaches the $0.52 mark at the time of writing.
The first statement made by Ripple is as follows;
“Ripple, a leader in corporate blockchain and crypto solutions, today announced that CEO Brad Garlinghouse and Executive Chairman Chris Larsen have been cleared of all charges brought against them by the U.S. Securities and Exchange Commission (SEC). The SEC voted in favor of dismissing the allegations with a stunning surrender by the government.
This victory comes on the heels of the July 2023 decision declaring that “XRP is not a standalone security” and the October decision denying the SEC’s temporary appeal.”
Ripple CEO Brad Garlinghouse said the following;
“For nearly three years, Chris and I have been subjected to an unfounded lawsuit with a political agenda. Rather than searching for criminals who steal customer funds on offshore exchanges, the SEC went after good guys who started a regulated business based in the U.S. Now that the SEC has lifted the curtain on their absurd theater against Chris and me, we look forward to the day when this chapter will be closed once and for all.”
Chairman Chris Larsen said the following;
“Today, we have legally prevailed and personally survived a troubling attempt to misuse the rules to advance a political agenda aimed at suffocating crypto in America. Being forced to defend ourselves against a baseless attack that has been flawed from the start is traumatic. While justice has prevailed, the actions that brought us to this point by the government raise questions about the origins and motivations of this case. It is an abuse of the administrative state by politically connected special interest groups with clear and proven conflicts of interest to personally destroy us and tarnish our reputations.”
