CryptocurrencyRipple

Brad Garlinghouse: “we tried to settle claims with the SEC before the trial”

Ripple CEO Brad Garlinghouse said the company was trying to settle claims with the SEC before the regulator sued it in December.

In several posts on Twitter, Brad Garlinghouse answered five “key questions” about the US Securities and Exchange Commission (SEC) lawsuit against Ripple. He warned that he could not answer all the questions, as the trial was ongoing.

“I can’t go into details, but I’ll say that we have tried and will continue to try, with the new administration, to solve this problem,” Garlinghouse wrote.

In December, the SEC accused Ripple’s management of selling $ 1.3 billion in unregistered securities. Garlinghouse, along with Ripple’s general counsel Stuart Alderoty, said the company would respond to the SEC’s claim. Ripple has publicly denied the Commission’s allegations, with a preliminary hearing scheduled for late next month.

On Twitter, Garlinghouse tweeted that Ripple “gave some customers, especially early adopters, incentives to use their product,” which he said was legal. He did not answer the question of whether Ripple paid the exchanges for listing and said that “Ripple does not control the XRP listing.”

Many platforms have suspended XRP trading since the SEC filed a lawsuit, including Bittrex , Coinbase , OKCoin, Beaxy and Bitstamp, as well as Galaxy Digital , B2C, Jump Trading, CrossTower, Bitwise, and OSL platforms . Kraken, one of the few major US platforms that is still trading XRP, said it is “looking into the matter.”

In addition, XRP whales are down 8% amid a SEC lawsuit against Ripple , according to the latest data from CoinMetrics .

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