Brad Garlinghouse contemplates on how Ripple has spent nearly 8 years in the process of working tirelessly to build an incredible company. He also reinstates that their mission does not stop here.
Brad Garlinghouse recently pointed to how the SEC has a complaint about crypto in the United States. The Ripple Lawyers have made a filing and they have stated that the complaint is wrong as a matter of law. And, also that the SEC are completely wrong on facts and law.
Brad pointed to the Ripplers about how they have bought in incredible amount of progress, growth and innovation. They have introduced new features by leveraging XRP, Line of credit, internet of value, and ultimately establishing how XRP is a currency and not a security.
Ripple have clarified about the status of XRP. XRP is not an “investment contract.” He also pointed to how the XRP holders are not sharing any profits of Ripple and about how they do not receive dividends. He also stated that they do not have voting rights or other corporate rights. He also stated that purchasers of XRP receive nothing from their purchase of XRP other than receiving the asset.
Also, the majority of the XRP holders do not have any kind of connection or relationship with Ripple for all reasons. He clearly explained how Ripple as a company is different from XRP. He said that Ripple as a company does have shareholders and that those who want to buy shares in Ripple buy the company shares and not the XRP.
The activities at Ripple does not have anything to do with the price of XRP. However, Brad clarified stating that the “price of XRP is correlated to the movement of other virtual currencies.”
Commenting, Sydney Ifergan, the crypto expert tweeted: “Ripple have now clearly over-communicated that Ripple has nothing to do with XRP price and that the price of XRP is based on other cryptocurrencies.”
Ripple (XRP) Clarifies Allegations
All of these explanations are coming from Brad Garlinghouse because “Unfortunately, in this lame duck status as Chairman Jay Clayton exits, he has decided to make very s
erious allegations, which suggest that Ripple, Chris Larsen and I have violated the Securities Act.”
The SEC seemingly are all prepared to do everything that they can do to paint Ripple, Chris, and Brad Garlinghouse in the worst possible light and things are expected to go out of control. Hopefully Ripple are geared to give fitting reply to defend their disposition.