{"id":599739,"date":"2024-03-26T16:00:18","date_gmt":"2024-03-26T16:00:18","guid":{"rendered":"https:\/\/ktsl888.com\/?p=599739"},"modified":"2024-03-26T12:19:46","modified_gmt":"2024-03-26T12:19:46","slug":"ripple-ceo-sec-2-billion","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ripple\/ripple-ceo-sec-2-billion\/","title":{"rendered":"Ripple CEO Responds To SEC\u2019s Shocking $2 Billion Demand"},"content":{"rendered":"

In a rather shocking development, the <\/span>United States Securities and Exchange Commission (SEC)<\/span><\/a> has demanded a $2 billion sanction against Ripple. Responding to the startling demands, Ripple\u2019s Chief Executive Officer (CEO), <\/span>Brad Garlinghouse<\/span><\/a> has taken a firm stance against the agency\u2019s demands, determined to expose the true nature of the SEC.<\/span><\/p>\n

Ripple CEO Criticizes SEC\u2019s Demands<\/h2>\n

Stuart Alderoty<\/span><\/a>, the Chief Legal Officer (CLO) of Ripple recently <\/span>disclosed<\/span><\/a> in a post on X (formerly Twitter) that the US SEC has petitioned a Judge for <\/span>$2 billion in fines and penalties<\/span><\/a> against Ripple. According to the Ripple CLO, the SEC is in a relentless pursuit to \u201cpunish and intimidate Ripple,\u201d rather than faithfully applying the law.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin To $50,000 Or $80,000? Crypto Expert Predicts Where Price Is Headed Next<\/a><\/div>\n

Challenging the SEC\u2019s $2 billion penalty, Garlinghouse <\/span>emphasized<\/span><\/a> that the agency has consistently operated beyond the bounds of law in various enforcement actions. He disclosed that <\/span>Judges have also taken note of the SEC\u2019s actions<\/span><\/a>, previously admonishing the agency for its extensive abuse of power entrusted to it by Congress.\u00a0<\/span><\/p>\n

The Ripple CEO also <\/span>criticized<\/span><\/a> the SEC\u2019s penalty demand, arguing that it lacks precedent and justification, particularly given the absence of any allegations, findings of fraud or recklessness in the case. As a result, <\/span>Garlinghouse<\/span><\/a> has vowed to expose the SEC for its conduct, emphasizing that Ripple will vigorously respond to the SEC\u2019s action.\u00a0<\/span><\/p>\n

Notably, Alderoty has <\/span>disclosed<\/span><\/a> that the company\u2019s legal team will be addressing the SEC\u2019s demands in a filing scheduled for next month. Offering his perspective on the SEC, the Ripple CLO characterized the agency as one \u201cthat trades in statements that are false, mischaracterized and designed to mislead.\u201d<\/span><\/p>\n

SEC Actions Hurt XRP Holders The Most<\/h2>\n

In its <\/span>lawsuit against Ripple<\/span><\/a>, the US SEC accused the payment company of violating securities laws by selling XRP in unregistered securities offering to investors in the US. According to the agency, the company and its executives had allegedly failed to <\/span>protect its investors<\/span><\/a>, depriving them of adequate disclosures of XRP.\u00a0<\/span><\/p>\n

However, members of the Ripple community <\/span>argue<\/span><\/a> that the SEC\u2019s enforcement actions against Ripple have not protected investors but caused even deeper challenges and <\/span>financial losses for XRP holders.\u00a0<\/span><\/a><\/p>\n

Related Reading: Bitcoin Whales Remove A Staggering $2.3 Billion From Exchanges, Is It Time To Buy?<\/a><\/div>\n

A popular XRP enthusiast, identified as XRPCryptoWolf has asserted that it should be the <\/span>SEC<\/span><\/a>, not Ripple, paying billions to XRP holders.\u00a0<\/span><\/p>\n

\u201cThe SEC asking for $2 billion in fines and penalties is ridiculous when they\u2019re the ones who financially hurt XRP holders the most. The SEC owes XRP holders tens of billions of dollars,\u201d he <\/span>stated<\/span><\/a>.\u00a0<\/span><\/p>\n

The XRP community member <\/span>disclosed<\/span><\/a> that after the SEC announced its lawsuit against Ripple, approximately $15 billion was wiped out from XRP\u2019s market capitalization, and the token was also delisted from major exchanges. As a result of the lawsuit\u2019s significant impact on XRP\u2019s value, millions of XRP holders experienced financial losses.<\/span><\/p>\n

\"XRP<\/p>\n

XRP price at $0.644 | Source: XRPUSDT on Tradingview.com<\/a><\/pre>\n
Featured image from Inside Bitcoins, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
In a rather shocking development, the United States Securities and Exchange Commission (SEC) has demanded a $2 billion sanction against Ripple. Responding to the startling demands, Ripple\u2019s Chief Executive Officer (CEO), Brad Garlinghouse has taken a firm stance against the agency\u2019s demands, determined to expose the true nature of the SEC. Ripple CEO Criticizes SEC\u2019s Demands Stuart Alderoty, the Chief Legal Officer (CLO) of Ripple recently disclosed in a post on X (formerly Twitter) that the US SEC has petitioned a Judge for $2 billion in fines and penalties against Ripple. According to the Ripple CLO, the SEC is in a relentless pursuit to \u201cpunish and intimidate Ripple,\u201d rather than faithfully applying the law.\u00a0 Related Reading: Bitcoin To $50,000 Or $80,000? Crypto Expert Predicts Where Price Is Headed Next Challenging the SEC\u2019s $2 billion penalty, Garlinghouse emphasized that the agency has consistently operated beyond the bounds of law in various enforcement actions. He disclosed that Judges have also taken note of the SEC\u2019s actions, previously admonishing the agency for its extensive abuse of power entrusted to it by Congress.\u00a0 The Ripple CEO also criticized the SEC\u2019s penalty demand, arguing that it lacks precedent and justification, particularly given the absence of any allegations, findings of fraud or recklessness in the case. As a result, Garlinghouse has vowed to expose the SEC for its conduct, emphasizing that Ripple will vigorously respond to the SEC\u2019s action.\u00a0 Notably, Alderoty has disclosed that the company\u2019s legal team will be addressing the SEC\u2019s demands in a filing scheduled for next month. Offering his perspective on the SEC, the Ripple CLO characterized the agency as one \u201cthat trades in statements that are false, mischaracterized and designed to mislead.\u201d SEC Actions Hurt XRP Holders The Most In its lawsuit against Ripple, the US SEC accused the payment company of violating securities laws by selling XRP in unregistered securities offering to investors in the US. According to the agency, the company and its executives had allegedly failed to protect its investors, depriving them of adequate disclosures of XRP.\u00a0 However, members of the Ripple community argue that the SEC\u2019s enforcement actions against Ripple have not protected investors but caused even deeper challenges and financial losses for XRP holders.\u00a0 Related Reading: Bitcoin Whales Remove A Staggering $2.3 Billion From Exchanges, Is It Time To Buy? A popular XRP enthusiast, identified as XRPCryptoWolf has asserted that it should be the SEC, not Ripple, paying billions to XRP holders.\u00a0 \u201cThe SEC asking for $2 billion in fines and penalties is ridiculous when they\u2019re the ones who financially hurt XRP holders the most. The SEC owes XRP holders tens of billions of dollars,\u201d he stated.\u00a0 The XRP community member disclosed that after the SEC announced its lawsuit against Ripple, approximately $15 billion was wiped out from XRP\u2019s market capitalization, and the token was also delisted from major exchanges. As a result of the lawsuit\u2019s significant impact on XRP\u2019s value, millions of XRP holders experienced financial losses. XRP price at $0.644 | Source: XRPUSDT on Tradingview.com Featured image from Inside Bitcoins, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":599760,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[6664,14690,3680,17209,15065,85514,3799,89194,91926,85513],"class_list":["post-599739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-crypto","tag-crypto-news","tag-ripple","tag-ripple-news","tag-ripple-sec","tag-ripple-vs-sec","tag-sec","tag-sec-news","tag-sec-ripple","tag-sec-vs-ripple"],"acf":[],"yoast_head":"\nRipple CEO Responds To SEC\u2019s Shocking $2 Billion Demand<\/title>\n<meta name=\"description\" content=\"In a rather shocking development, the United States SEC has demanded a $2 billion sanction against Ripple.\" 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/ktsl888.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ripple CEO Responds To SEC\u2019s Shocking $2 Billion Demand","url":"http:\/\/ktsl888.com\/news\/ripple\/ripple-ceo-sec-2-billion\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/ripple\/ripple-ceo-sec-2-billion\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Ripple-SEC.jpeg?resize=200%2C159","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Ripple-SEC.jpeg?fit=318%2C159"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["crypto","crypto news","ripple","ripple news","ripple sec","ripple vs sec","sec","sec news","sec ripple","sec vs ripple"],"dateCreated":"2024-03-26T16:00:18Z","datePublished":"2024-03-26T16:00:18Z","dateModified":"2024-03-26T16:00:18Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ripple CEO Responds To SEC\\u2019s Shocking $2 Billion Demand\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ripple\\\/ripple-ceo-sec-2-billion\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ripple\\\/ripple-ceo-sec-2-billion\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/Ripple-SEC.jpeg?resize=200%2C159\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/Ripple-SEC.jpeg?fit=318%2C159\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"crypto\",\"crypto news\",\"ripple\",\"ripple news\",\"ripple sec\",\"ripple vs sec\",\"sec\",\"sec news\",\"sec ripple\",\"sec vs ripple\"],\"dateCreated\":\"2024-03-26T16:00:18Z\",\"datePublished\":\"2024-03-26T16:00:18Z\",\"dateModified\":\"2024-03-26T16:00:18Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Ripple-SEC.jpeg?fit=318%2C159","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/599739"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=599739"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/599739\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/599760"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=599739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=599739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=599739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}