Brad Garlinghouse, the CEO of Ripple, and Stuart Alderoty, the CLO of Ripple, have recently reflected on the one-year anniversary of Judge Torres’ Summary Judgment in the SEC v. Ripple case. This decision was a turning point in determining that XRP is not a security.
In a recent post on X (formerly Twitter), Ripple’s Chief Legal Officer, Stuart Alderoty, emphasized the significance of Judge Torres’ Summary Judgment on July 13, 2023. This landmark decision confirmed that XRP, a cryptocurrency associated with Ripple, is not classified as a security.
According to Alderoty, this ruling was crucial in the ongoing legal battle between Ripple and the SEC, providing much-needed relief to the crypto industry. The decision also highlighted the overreach of the SEC under the leadership of Chair Gary Gensler, with other cases, such as the recent one involving Binance, raising similar concerns.
Ripple’s CEO, Brad Garlinghouse, also expressed his views on the impact of Judge Torres’ decision. He emphasized that despite the ongoing legal proceedings and pending remedies, the SEC will not challenge the determination that XRP is not a security. Garlinghouse remains confident in Ripple’s ability to bounce back and thrive, asserting that the industry will emerge stronger in the face of regulatory challenges.
On the anniversary of the ruling, Garlinghouse reaffirmed his belief in Ripple’s position, stating, “As I said when it started, I knew that we were on the right side of the law and would be on the right side of history.”
Additionally, parties involved in the Ripple class action lawsuit have filed administrative motions to file under seal. Judge Phyllis Hamilton has ordered the parties to address their sealing motions, with further filings and hearings scheduled for July. Ripple has argued that Judge Torres’ summary judgment on ‘programmatic buyers’ should apply to the current class action suit, with the court expected to rule on these motions soon.
In terms of XRP’s price trend, the cryptocurrency has experienced a bullish rally in the last 24 hours, with the price fluctuating between $0.4774 and $0.4452. At the time of writing, XRP’s price had increased by 6% to $0.4748, with market capitalization and trading volume also seeing significant gains.
Overall, the one-year anniversary of Judge Torres’ Summary Judgment in the SEC v. Ripple case serves as a reminder of the ongoing legal battles within the crypto industry and the resilience of Ripple and its associated cryptocurrency, XRP. The Benefits of Regular Exercise
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