Ripple Rebounds: CEO and CLO Reflect On Landmark SEC Judgment

Ripple’s CEO Brad Garlinghouse and CLO Stuart Alderoty recently shared their thoughts on the one-year mark of Judge Torres’ Summary Judgment in the SEC v. Ripple case. This ruling was a big win for Ripple, as it decided XRP is not a security.

Alderoty took to X (formerly Twitter) to highlight the importance of the July 13, 2023 judgment. He said it relieved the crypto industry and showed how the SEC, under Gary Gensler, has overstepped its bounds. Alderoty noted that while courts have reined in the SEC, getting clarity through legal battles is expensive and unsustainable. He called for new laws to address this issue.

Garlinghouse pointed out that the ruling’s effects go beyond just Ripple. He stressed that Ripple and the crypto industry will bounce back stronger despite the SEC’s attempts to crack down on them. Garlinghouse added that the SEC’s actions and threats haven’t stopped the industry and won’t in the future.

“I knew we were on the right side of the law and would be on the right side of history,” Garlinghouse said about the case’s anniversary.

Ripple Lawsuit: Judge Orders Sealing Of Documents

In related news, both sides in the Ripple class action lawsuit have asked to file some documents under seal. Judge Phyllis Hamilton ordered this after rejecting earlier attempts to hide parts of their briefs. More filings and hearings are set for July.

Ripple argues that Judge Torres’ ruling on ‘programmatic buyers’ should also apply to this class action suit. The court will decide on these requests soon.

A settlement meeting with Judge Robert Illman is scheduled, and notices about excluding expert testimony are due by July 26.

Meanwhile, XRP’s price has gone up in the last day. It reached a high of $0.5074 and a low of $0.4452. At the time of writing, XRP was trading at $0.4748, up 6% from its daily low. Its market value and trading volume also increased by 6% and 46%, hitting $26,500,863,399 and $1,592,515,664 respectively.

Source: CoinMarketCap

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