In 2020, the SEC charged Ripple and two of its executives with breaking the law by selling unregistered securities. At the time, she issued a press release stating: “We allege that Ripple, Larsen, and Garlinghouse failed to record their ongoing offerings and sales of billions of XRP to private investors, thus failing to provide potential buyers with adequate information about XRP and Ripple’s activities.Since then, the regulator and the crypto company have been engaged in a fierce legal battle that seems never-ending. That said, it seems that the SEC lawsuit against Ripple is holding back many investors eager to partner with the crypto company.
Ripple would interest many US investors
Nick Burrafato, a senior Linqto executive, recently made a statement about Ripple. In fact he has reported information that Brad Garlinghouse, the CEO of the crypto company, allegedly entrusted to him. The latter would have explained that to him in particular several US companies are awaiting the conclusion of their case with the SEC for a collaboration. Linqto posted a Twitter message on November 21 to inform the crypto community.
“Brad Garlinghouse, CEO of Ripple Labs, told Nick Burrafato, Director of Membership Sales at Linqto, at the 2022 Ripple Swell in London that “Bank of America will gain a competitive advantage when the SEC case against Ripple is settled, using ODL in the market ““, we could read in the tweet.
So Bank of America would patiently wait for the end of the lawsuit between the SEC and Ripple to work with the company. It wants to deploy the on-demand liquidity product created by the XRP-issuing company to its market.
Ripple and Bank of America: old partners!
In reality, Bank of America was one of the key members of the ODL which were mentioned by Ripple in 2020. Santander was also one of the financial giants named by the crypto company.
You should know that the ODL is powered by the XRP token. The solution is used in different regions around the world. It is used in the United Kingdom, Argentina, Brazil, the United Arab Emirates, Belgium and Singapore, among others.
This year, Ripple’s CEO argued that the crypto company will emerge victorious against the SEC. At the same time, legal expert Jeremy Hogan indicated that the value of XRP could rise significantly at the end of the lawsuit. Meanwhile, the token is currently trading around $0.37.
Get a summary of the news in the world of cryptocurrencies by subscribing to our new service fromdaily and weekly so you don’t miss any of the essential Cointribune!
Far from dampening my enthusiasm, a failed investment in a cryptocurrency in 2017 only added to my enthusiasm. I therefore decided to study and understand the blockchain and its many applications and to pass on information about this ecosystem with my pen.