Ripple CEO Brad Garlinghouse's Viral Photo: A Closer Look at Ripple's Battle with the SEC
Explore the ongoing legal battle between Ripple and the SEC over the classification of XRP tokens in this in-depth article. Dive into the protests, court victories, and the appeal, gaining insights into the future of Ripple.
Posted 10 months ago in Blockchain
Ripple CEO Brad Garlinghouse recently posed for a photo outside the headquarters of the U.S. Securities and Exchange Commission (SEC). The photo, featuring Garlinghouse and Ripple General Counsel Stuart Alderoty shrugging, went viral on social media.
The photo op comes amid a history of tension between Ripple and the SEC. Ripple has been embroiled in a legal battle with the regulator over whether its XRP token should be classified as a security.
The XRP community—often referred to as the 'XRP Army'—previously staged a protest outside the SEC's headquarters in 2019, demanding an end to what they perceive as the regulator's war on cryptocurrency.
Earlier, Alderoty had also posted a picture of himself and Garlinghouse in front of the Supreme Court of the United States (SCOTUS), emphasizing the need for legislative clarity.
This summer, XRP experienced a significant price surge following a partial court victory for Ripple. Despite the initial spike, XRP has since lost those gains and is currently trading at $0.52 according to CoinGecko data.
The SEC has appealed the ruling, arguing for a more stringent classification of XRP transactions under securities law. Legal experts are divided on the issue.
Last updated 9/20/2023, 2:20:25 AM
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