Ripple had its best year despite the ongoing SEC lawsuit throughout the year according to the CEO of the platform Brad Garlinghouse as we are reading more in today’s Ripple news.
It has been quite the crazy year for Ripple while its Saga with the US SEC continues. However, the CEO Brad Garlinghouse is quite positive about how this year turned out for the platform. Filed on December 22, 2020, the SEC vs Ripple is a regulatory riddle and has been exactly one year since the US authority filed the lawsuit accusing Ripple of violating the security laws. The industry is still waiting for an end of the Ripple vs SEC case but in a series of Tweets, Garlinghouse reflected on the SEC actions and stated that this was an attack on not just ripple but to stifle the crypto innovation entirely.
“Of all the shitty things in 2020, this was certainly one to cap the year Rolling on the floor laughing. But what I said then remains (painfully) true today: this is an attack on crypto in the US, not just Ripple. Some took the SEC’s allegations at face value/ thought this was a one-off, but no longer”
While revisiting the legal dispute, the CEO turned the spotlight on the ODL performance during the third quarter of the year. Ripple earlier revealed seeing more growth and traction of the On-Demand Liquidity as the transactions surged by another 130%. Garlinghouse mentioned the development of the ODL corridors like UAE and Japan and the central bank digital currency solution that is powered by a private version of the public XRPL that joined forces with Palau and Bhutan. He outlined that these developments were not home-grown but the growth originated from other parts of the world.
Garlinghouse even said that 2021 was a watershed year for the entire space with the calls of acceptance and awareness of the opportunity to include billions of users into the global financial community and to grow stronger. The executive pointed out that SEC’s double standards and the legal status of ETH so Ripple had previously questioned why XRP sales were considered illegal when the asset is not different than the industry heavyweights like BTC and ETH. The battle is still going to be a long one as the Ripple CEO opted to fight the case in the courtroom as well as the court of public opinion rather than settling. It now seems that Ripple is in no mood of backing down and there will be plenty to unravel.
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