Brad Garlinghouse took to Twitter to answer burning questions about the SEC’s lawsuit regarding XRP sales

According to Ripple CEO Brad Garlinghouse, Ripple tried to settle with the Securities and Exchange Commission but to no avail. Therefore, perhaps shortly, we will see more unfortunate things coming to Ripple and XRP. However, at present, the XRP price is still up 16% despite the market falling from 10% to 20% on the day.

Ripple settled with SEC but failed, XRP price still increased 16%

In December, the SEC filed a lawsuit of up to $ 1.3 billion against Ripple. In it, Garlinghouse and co-founder Chris Larsen are accused of participating in the sale of XRP as unregistered securities.

In a recent press release, the SEC said:

“The defendants did not register their offers and sold their XRP or met any exemption from registration, in violation of the registration terms of federal securities law.”

Today, in a thread on Twitter, Garlinghouse mentioned Ripple’s attempt to resolve the lawsuit.

He said:

“Can’t get into specifics, but know we tried—and will continue to try [with] the new administration—to resolve this in a way so the XRP community can continue innovating, consumers are protected and orderly markets are preserved.”

The CEO is also trying to answer questions about whether Ripple will pay exchanges to list XRP.

In it, he said:

“Ripple has no control over where XRP is listed, who owns it, etc.”

There are still many other questions that have not been answered properly. And Ripple will soon have a chance to answer them because next month, a conference to discuss this issue will take place.

Garlinghouse also stated why Ripple has not responded to the SEC yet:

“The legal process can be slow! Things seem quiet, but a lot is going on behind the scenes. We’ll give an initial response within a few weeks.”

So let’s wait and see how this story unfolds!

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