In an interview with CNN presenter and correspondent Julia Chatterley, Ripple CEO Brad Garlinghouse expressed that Ripple could still stand even without its XRP cryptocurrency.
To recall, last December 2020, the SEC sued Ripple Labs Inc. and its founders Bradley Kent Garlinghouse and Christian Larsen.
To better understand, they were sued by the SEC, because of the million-dollar sales of their cryptocurrency XRP, since the Securities and Exchange Commission considers these assets to be a security.
But, the California-based startup strongly disagrees. Underlining, that XRP is a cryptocurrency, just like Bitcoin or Ethereum.
The legal conflict has generated all kinds of problems for Ripple with investors wanting to join the lawsuit against the company.
Just a few days ago, the New York District Court approved such a request, further complicating the situation for Ripple Labs.
Brad Garlinghouse: “Ripple could abandon XRP token”
Indeed, Brad Garlinghouse, expressed this opinion in an interview with CNN: “Ripple could abandon the XRP token if it helps to resolve the conflict with the SEC.”
Specifically, the company could stay afloat without XRP, given the demand for its services as a platform for cross-border payments and international million-dollar settlements.
“There are billions and billions of dollars in transactions on Ripplenet, our payment network.”
In fact, Garlinghouse said that despite litigation with the SEC, the company is making progress:
“The good news for Ripple is that we continue to enter into partnerships. By the way, we have signed contracts with 20 financial institutions around the world, since the SEC filed the lawsuit. And, I think we will see that the network grows very quickly with clients in the United States.
After the interview, Brad Garlinghouse thanked the presenter: “Thank you @jchatterleyCNN for having me on the show. It’s still surprising to think that when we first spoke, cryptocurrencies had a market capitalization of around $ 200 billion… Here we are at $ 2 trillion. ‘
Possible opportunity with the new leaders
Earlier, in an interview with Bloomberg, Ripple’s CEO said that he hopes to resolve the conflict due to changes in the new SEC administration.
“I hope the new SEC chairman will be confirmed in a couple of weeks. It is a good opportunity to speak with the new leaders.
Among the news, through a press release, Ripple reported that it is progressing in tests for a Blockchain focused on central bank digital currencies (CBDC).
According to Ripple itself, 80% of national issuers are exploring the potential of their CBDCs.
I close with this quote from Brad Garlinghouse: “We are the party most interested in the success of XRP.”