Brad Garlinghouse, the CEO of Ripple (XRP), has acknowledged that the company’s involvement in the case against the Securities and Exchange Commission (SEC) has cost money. In a recent interview, Garlinghouse claimed that by the time the legal dispute was over, Ripple would have shelled out more than $100 million in legal fees. “The facts and Law are on the side… When this is all done, we will have spent over $100 million on legal fees fighting the SEC… This fight is not just for Ripple, it’s for the whole Industry,” Garlinghouse said at Consensus 2022 in Austin, Texas, on July 15. SEC Coerced Companies Into Settlements Ripple CEO asserts that the SEC has always benefited from the prohibitive costs of a judicial battle because of the securities regulator. Garlinghouse claims that the SEC relies on the fact that most crypto-related businesses do not have the financial means to sue the agency. He said that as a result, they repeatedly bullied these businesses into signing a settlement. Ripple Case Insights The CEO of Ripple gave some explanations as to why the company chose to litigate the matter rather than settle, as most bitcoin businesses would have done in similar circumstances. Garlinghouse thinks the ongoing legal battle is vital for the whole cryptocurrency industry, not just Ripple. Ripple filed a lawsuit against the SEC to persuade the agency to clarify its regulations for the developing Industry.The post Ripple CEO: F...
