Many people who closely follow the case between Ripple and the SEC think that the case will end in Ripple's favor. However, Ripple CEO Brad Garlinghouse made statements about what could happen otherwise.
Following the debate between the CFTC and the SEC about which regulatory watchdog should be best suited to regulate cryptocurrencies, Ripple CEO and founder Brad Garlinghouse has given his opinion on the matter.
The U.S. Securities and Exchange Commission's (SEC) legal watchdog over Ripple says there was evidence that a key SEC official was aware of a conflict of interest in the case at the time of the inception.
Ripple's co-founder, Chris Larsen, came up with a remarkable donation. Larsen donated $5 million to a startup environmental campaign that wanted to change Bitcoin's code. The consortium of environmental groups aims to persuade miners, software developers and others to abandon the 'proof of work' mechanism by using the funds.
As the presence of crypto becomes more prominent in the consumer mainstream, financial industry interest in crypto is growing. Goldman Sachs is one of the traditional organizations that are making breakthroughs in the crypto space. Goldman Sachs' Investment Banking Division described Ripple as "an opportunity in payments."
There has been another important development in the "unregistered securities sale" lawsuit between the US Securities and Exchange Commission (SEC) and the Ripple company. The SEC has requested an adjournment for the discovery period, which will expire on March 23, regarding the cases of Ripple CEO Brad Garlinghouse and Chris Larsen, the individual defendants in the case. The Ripple side responded to the request with a letter of objection.