.Ripple's legal battle with SECGov is set to cost the firm $200 million, CEO bgarlinghouse has said. By iamsandali.
Garlinghouse reportedly told onlookers at the Dubai Fintech Summit that he would not advise crypto entrepreneurs to set up in the U.S., adding the country puts politics ahead of policy.
Ripple was sued by the securities regulator in 2020 along with several of its executives over the unregistered sale of XRP tokens worth around $1.3 billion. The same year, the firmSince the collapse of crypto exchange FTX's last year, the SEC has cracked down on some of the biggest players of the industry over violations of federal securities laws – although it recentlyRipple has historically kept its distance from XRP, which powers some of Ripple’s products.
A judgement on the SEC case is expected in the next three to six weeks, according to the report. Hopes that the lawsuit would go in Ripple's favor caused the
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Defending against SEC to cost Ripple $200M, CEO Brad Garlinghouse saysRipple CEO Brad Garlinghouse revealed that the company expects to spend up to $200 million defending itself against the SEC’s lawsuit.
Read more »
Ripple CEO Praises XRP Community, Here's WhyRipple CEO commends XRP community, here's why XRPArmy XRPCommunity XRPHolders $XRP RippleXRP
Read more »
Usher Left With Bloody Nose After Las Vegas Tussle with Chris BrownIt all seems to have started at Breezy’s roller skating-themed 34th birthday, when Chris Brown allegedly began acting disrespectfully toward artist Teyana Taylor. This is the point when Usher intervened, according to a video obtained by TMZ.
Read more »
Nikola Jokic gets tech for shoving Suns owner Mat Ishbia in sideline tussleNuggets star Nikola Jokic paid the price with a technical foul for making contact with Suns owner Mat Ishbia.
Read more »
1 injured, multiple cars and homes damaged in overnight Broad Ripple shootingBroad Ripple residents took cover as someone fired 'between 30 to 40' shots into homes and cars early Sunday morning. Officers found at least 90 shell casings in the area. More information:
Read more »