Ripple CEO Garlinghouse Talks SEC Win, Crypto, Future Plans

During a Bloomberg interview Ripple CEO Brad Garlinghouse explained the company”s SEC victory together with its involvement with the U.S. Crypto Stockpile and overall business objectives.

Ever since December 2020 the SEC launched lawsuits against Ripple Garlinghouse regards the legal conflict as substantially over. The SEC ended its legal appeal because a previous court confirmed XRP from Ripple maintained non-security status.

Garlinghouse highlighted the successful result of the company”s core case in summer 2023. Judge Torres declared that XRP stands alone as an asset and should not label as a security. SEC representatives agreed to end their eight-month-old legal dispute since they achieved their main goals in summer 2023.

Ripple Pushes for Return of $125 Million Fine

Ripple now conducts its legal strategy without being tied to an appeal initiated by the opposing party. Garlinghouse discussed ongoing talks with the SEC about receiving back the $125 million fine that stays in reserve. Our team wants to retrieve the full $125 million fixed amount back into our possession. That’s on the table.”

Garlinghouse suggested that XRP would play a role in a brand new government crypto initiative because of recent actions surrounding Bitcoin and cryptocurrency assets. Although XRP was not part of the initial order Garlinghouse expects its development to happen.

According to my research the US government plans to establish a Bitcoin financial reserve program. The stockpile will include every type of crypto but XRP most likely will be part of it according to him. He explained that the stockpile would include digital assets taken from law enforcement investigations that might include XRP.

Garlinghouse sees good potential for spot XRP ETF approval by the SEC this year because the agency has multiple ETF applications under review. Current SEC filings now reach a total of eleven from Bitwise and multiple other companies. He estimated that these products would become available before summer ended.

Ripple’s Stablecoin RLUSD Poised for Market Growth

The discussion about taking Ripple public continues but Garlinghouse sees an Initial Public Offering as a secondary concern for now. “It isn’t a huge priority. Organizations turn to public listing because they want significant financial expansion more than anything else.

Our successful business development happens naturally without external investment sources according to Garlinghouse. Ripple seeks to expand its business by making strategic acquisitions as the new financial regulations may lead firms to merge in the market.

Garlinghouse explained the launch details of RLUSD that Ripple released during the last part of 2019. RLUSD is part of the $230 billion stablecoin market supply which analysts expect will experience significant expansion in future years.

The company released its own stablecoin during final stages of 2019. Our own internal forecasts were surpassed when this happened. Throughout 2023 we are aiming for RLUSD to join the top five marketplace cryptocurrencies according to our CEO.

People in Washington continue to adopt stablecoins because businesses in the financial sector want to trade around the clock. The stablecoin sector will experience strong expansion according to Garlinghouse based on recent developments with U.S. Congress.

The legal win and the evolving rules give Ripple excellent chances to grow their business. Thanks to increasing XRP crypto funds options and bigger company acquisitions plus stablecoin activity Ripple prepares to succeed in today”s digital asset market. The current market price of XRP stands at $2.44 which demonstrates that investors expect positive returns from this cryptocurrency.