CEO Brad Garlinghouse: Ripple could abandon XRP and replace it with an alternative if it loses the lawsuit
It seems like Ripple CEO Brad Garlinghouse will replace XRP if the course of the lawsuit doesn’t work in their favor. Garlinghouse and co-founder Chris Larsen are being sued by the US Securities and Exchange Commission over the sale of unregistered XRP.
“I find a certain irony with bringing a lawsuit against us personally.” / PART 1 pic.twitter.com/d0dN8IdqQA
— Julia Chatterley (@jchatterleyCNN) April 1, 2021
CEO Brad Garlinghouse: Ripple could go forward without XRP if it loses the lawsuit
In a CNN interview with Julia Chatterley, Garlinghouse said that ditching XRP and replacing it with an alternative could certainly be part of the solution in the United States when asked about the contingency plan:
“That certainly could be part of the solution. I think there is certain strangeness that XRP has kind of picked winners here: it said that Bitcoin is not a security, it said that Ether is not a security, but really everything else, I think, is kind of at risk. Particularly, given what they have done in the lawsuit against Ripple. But, you know, we could do that.”
Garlinghouse refused to publicly address some damning allegations about him netting $150 million from XRP sales:
“I’m really looking forward to the facts coming out in the court case. You know this is something that I haven’t commented on publicly because the wheels of justice kind of move slowly. It’s important that we get the facts out. We heard one side of the story from the SEC.”
Garlinghouse insists that Ripple and himself are more transparent than anyone in the crypto industry, encouraging other market participants to reach such high standards. Ripple recently introduced a separate version of the XRP Ledger for central banks.
Garlinghouse also believes that Bitcoin will not go away, which also applies to the broader cryptocurrency industry. However, he reiterated his concerns about the leading cryptocurrency’s excessive energy consumption while adding that XRP is 100,000 times more efficient on a per-transaction basis.
You can see the XRP price here.
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