ceo ripple said 2022 will be best year for xrp xrp to 45 000 brad garlinghouse ceo of ripple said in
a recent interview that he is pleased with the development of the lawsuit between his company
and the u s securities and exchange commission sec he announced this while speaking to cnbc
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to garlinghouse who is also one of the defendants in the case the trial is going much better than he
expected 15 months ago when the blockchain company was sued the trial went very well and much better
than i could have hoped for when it started about 15 months ago garlinghouse said however he does
not seem to be happy with the constant delays that have been recorded throughout the trial
the defendants have repeatedly accused the sec of deliberately delaying the case
but so far the judge has granted all requests for postponement initiated mainly by the sec but
the wheels of justice are turning slowly he said garlic house once again noted the importance of
the process for the entire cryptocurrency industry and this opinion is shared by many in the industry
this case is important not only for ripple it is important for the entire crypto industry in the
united states it would really be negative for cryptocurrencies in the united states ripple's
victory will force the us sec to establish rules defining which cryptocurrency should be considered
a security however if the company loses the lawsuit almost all cryptocurrencies traded in
the united states can be classified as securities meanwhile it is expected that the trial will end
with a settlement agreement in favor of ripple given a number of events that have recently gone
against the sec as it turned out in the course of the case the commission had a lot of skeletons in
the closet and perhaps she would not want to show them which would push her to a settlement
agreement over the past day the price of x rp has increased by almost seven percent at the
moment reaching zero dollars 798. now the coin is trading near its main resistance of zero dollars
seventy eight earlier it became known that the all bridge cross chain bridge announced the
successful integration of the xrp ledger xrpl which will allow linking crypto assets in the
xrpl network with other blockchains after several calls from the ripple xrp community to investigate
allegations of corruption by former heads of the securities and exchange commission jay clayton
and william hinman shannon o'leary through american bailiff fred rispoli filed a class
action lawsuit against the duo rispoli claimed in a lawsuit filed against clayton and hinman that
both former executives acted in favor of their previous and current employers who are closely
associated with ethereum to harm hundreds of thousands of xrp investors around the world
in a long twitter thread frispolly noted that while no agency has shown any interest in the xrp
community's calls to investigate the activities of former sec chairman clayton and former head of
the hinman commission's finance department o'leary has decided to look into the matter according to
rispoli there is substantial evidence revealing some of the shady actions of clayton and hinman
and therefore a class action lawsuit was filed against them on april 11 2022 a class action
lawsuit was filed against clayton and hinman for malicious interference with the valid business
expectations of all users of the xrpl network the main plaintiff and my client shannon o'leary have
decided to take a stand riskily said it's worth noting that this isn't the first time clayton
and hinman have been accused of working against ripple in favor of ethereum
clayton was appointed chairman of the sec on may 4th 2017 by former president donald trump
after starting work as chairman of the commission clayton appointed hinman director of corporate
finance at the sec on may 9 2017 prior to his appointment hinman held an important position
at the american law firm simpson thatcher an organization part of the enterprise ethereum
alliance which represents the financial interests of eth in 2018 clayton stated that bitcoin is not
a security which led to a sharp increase in its price and secured its position as the largest
cryptocurrency by market capitalization clayton on his last day in office on december 4th 2020
accused ripple and two of its executives of unregistered securities offerings in the united
states more than seven years after the sale a few weeks after hinman left the sec he subsequently
returned to his former company simpson thatcher where he was paid 15 million dollars to cover
his salary while he worked at the securities and exchange commission after clayton left the agency
in april 2021 he was appointed advisor to one river asset management a cryptocurrency company
specializing in bitcoin and ethereum both clayton and hinman are accused of multiple conflicts of
interest as recent emails suggest the latter was still meeting with simpson thatcher even while he
was sec director which violated agency policy o'leary with the support of the xrp community
hopes that the u s legal system will prove these facts of the alleged corrupt actions of clayton
and hinman meanwhile ripple is confident that during the preparation of hinman's speech in 2018
an assessment of the legal status of xrp was given that is why the sec constantly refuses to provide
emails containing a draft of hinman speech stating that the comment of the former financial director
of the agency is only a personal opinion and cannot be used as a public guide interestingly
judge sarah netburn in her latest ruling ordered the sec to hand over hinman's emails to ripple
it is expected that with the directive the sec may be forced to negotiate a settlement with ripple
and many assume that this will be in favor of the company ripple is celebrating a new order from
you s magistrate judge sarah netburn amid the firm's ongoing dispute with the securities and
exchange commission sec the litigation between ripple and the sec dates back to december 2020
when the u.s securities regulator filed a lawsuit against the distributed ledger technology company
and claimed that it conducted an unregistered securities offering by selling xrp ripple fought
the case arguing that xrp is not a security and that the sec's guidance on which tokens or
securities does not clarify the rules of conduct for crypto firms in an april eleventh decision
netburn rejected the sec's request to review its order obliging the agency to provide documents and
communications related to a speech by the previous sec director william hinman in which there were
remarks about why he did not consider bitcoin and ether securities earlier the sec claimed that the
speech consisted of hinman's personal views on cryptocurrency and did not reflect the policy of
the entire agency then in an attempt to prevent notes drafts and discussions of this speech from
entering the courtroom the securities and exchange commission stated that this speech actually
reflects the agency's policy and therefore any emails or messages related to it can be
protected under the privilege of the deliberative process dpp the dpp allows government areas to
claim immunity from disclosure or disclosure if the communications relate to internal processes
the live xrp price today is zero dollars 88 u.s dollars with a 24-hour trading volume of 3 billion
740 million us dollars we update our xrp to usd price in real time xrp is down zero four percent
in the last 24 hours do you think xrp will be able to win the court and restore its former price
write the answers in the comments that's it for today thank you for watching this
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