Ripple Boss Tips As Hoskinson Strikes Back On XRP Army And SEC Case Ends
Optimistically, Brad Garlinghouse believes the case will be closed in three to four months, although it could take longer.
According to Ripple CEO Brad Garlinghouse, the long-running battle between Ripple and the U.S. Securities and Exchange Commission is coming to an end, but it could still take months.
Native token XRP has been in tears over the past month as speculation mounts that the case will be successfully resolved by the end of the year.
On Oct. 11, Garlinghouse told a panelist at the DC Fintech Week conference that he expects the lawsuit against his company to close in the first half of 2023, but admitted it’s hard to predict.
The first lawsuit by US securities regulators was filed in December 2020, accusing the company of using the XRP token to conduct unregulated securities sales. It is a long-delayed case, and Garlinghouse said it is a pioneering case for the United States and the wider cryptocurrency industry. He added that a full briefing will be held by mid-November and will take place before a judge.
“Federal judges are working at their own pace,” he said, adding, “optimistically three to four months, pessimistically longer.”
Garlinghouse also referred to a 2018 speech by former SEC Division Director William Hinman that Ethereum is not a security, and said the judge has ordered the SEC to provide details six times. On September 29th, a small victory was finally won for Ripple when these elusive duplicates were finally delivered in full.
Fintech bosses said Ripple would consider a settlement with the SEC on the condition that XRP is not classified as a security.
Hoskinson strikes back
Meanwhile, Cardano founder Charles Hoskinson has hit back at the abuse he received from Ripple fans, better known online as the XRP Army. In an October 11 video, he said:
“I was very surprised to see an influx of unbelievable criticism for just one out-of-context comment.”
The comments were about a “financial conspiracy” rumor involving the SEC and Ethereum co-founders swirling in the XRP camp. Many Ripple proponents, including Brad Garlinghouse, argued that at the time the regulator was giving his ETH an unfair advantage over his XRP because the regulator was only for his Ripple and ETH was not recognized as a security. I think I gave
Hoskinson argued that the SEC is targeting Ripple not because of corruption or conspiracy devised by the XRP community, but because of a lack of clarity. This irritated the XRPArmy, who began trolling Hoskinson on Twitter until Hoskinson decided to block many of them.
I think I blocked most of the XRP trolls who keep harassing me for no reason. I have never seen the group.
— Charles Hoskinson (@IOHK_Charles) October 11, 2022
The outspoken Cardano founder got into a fight with an Ethereum developer last month over Merge, claiming it was a flawed proof-of-stake implementation. Most recently, in an exclusive interview with Cointelegraph on Oct. 10, Hoskinson was equally critical of both Ethereum and Bitcoin.
Charles Hoskinson: “ETHGate is a conspiracy theory”
XRP Army: “No”
Charles Hoskinson:
— Alex Cobb (135k followers beware of scammers) (@AlexCobb_) October 11, 2022
In related Ripple news, the San Francisco-based fintech company has expanded its on-demand liquidity (ODL) service to France and Sweden. In an October 11 announcement, Lemonway, a Paris-based payment provider for online markets, has become a new partner in France, while Swedish remittance provider Xbaht will facilitate remittances between Sweden and Thailand. Reported. His ODL service on Ripplenet uses his XRP to provide liquidity for cross-border remittances.
Related: Cardano Founder Points Out Flaws in Ethereum and Bitcoin
Meanwhile, according to CoinGecko, the price of XRP has fallen another 1.5% over the past 24 hours to $0.485.
Ripple Boss Tips As Hoskinson Strikes Back On XRP Army And SEC Case Ends
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