Brad Garlinghouse, the Chief Executive Officer of Ripple, recently appeared in an interview. He answered many interesting questions, including why Ripple bought back its shares and where he stood with taking the company public.
The SEC had filed a lawsuit in 2020 against Ripple for raising $1.3 billion in unregistered digital assets securities in return for XRP. Brad responded to the lawsuit by saying that XRP was a virtual currency and not a contract of investment.
Brad Takes A Dig At The SEC
Despite the US Securities and Exchange Commission filing a lawsuit against Ripple, there has been continuous growth in the company. It registered a growth in its assets by almost eight times from the base of $200 billion.
The lawsuit damaged its reputation and put a dent in its customer base, but Ripple appears to be growing stronger than ever.
When asked for a reason for buying back shares, Brad Garlinghouse said that a buyback of $15 billion worth of shares was a sign of the momentum in the company’s growth.
Ripple has started 2022 on a positive note, and the first month will put one green streak, which the company expects to happen through the year.
He expressed his disappointment with the over-involvement of the SEC, saying that the regulator was unnecessarily dragging its feet in the company. Brad also said that the company was frustrated with the SEC for constantly delaying the delivery of justice.
Other countries have been successful with accepting Cryptocurrency in their economy. This includes Switzerland, the United Kingdom, Singapore, and Japan. Acceptance came with a balanced involvement of their respective regulator, but the same has not been the case with Ripple in the United States of America.
Ripple seeks only two things, namely clarity, and a level playing field. Accusing the US government and the SEC of unfairly picking winners and losers, Brad said that they were being denied the much-deserved justice.
He went on to accept that he was being combative on Twitter, adding that it was only because the SEC declared war with the company. None of the allegations mentioned by the regulator are grounded on any fact. They are simply being turned into a story with no connection to the actual facts.
Brad Garlinghouse compared the current attitude of the SEC to that of being a power grab. He said that the regulator was going over and above its legal status to stretch the mandate.
Irrespective of what the current situation of Ripple is, Brad believes that the future will be very bright. He expects the lawsuit to be concluded in the current year, followed by which Ripple may go public by launching its IPO.
The management of the company is not on that page right now and will evaluate every perspective first.
As Brad Garlinghouse is optimistic about the future of Ripple, one can make a blind guess about how well XRP will perform on the trading board. You can also read this realistic XRP price prediction for better insights.