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Ripple and XRP have had an eventful few months, with the two at the forefront of a controversial litigation brought by the United States Stock and Exchange Commission in December. With the two sides currently struggling to reach a compromise, those in the city anticipate that the court’s decision would be heavily weighted in favour to one hand.
During an interview with Julia Chatterley, Ripple CEO Brad Garlinghouse, one of the defendants in the above lawsuit, stated the same. When asking what would happen if Ripple lost the appeal, the executive said,
“The good news for Ripple is we’ve continued to sign customers. We’ve signed over 20 new institutions across the world as customers since the SEC filed the lawsuit and I think we’ll continue to see the network grow more rapidly among non-U.S customers.”
According to Garlinghouse, Ripple is open to “contingency plans” and “alternative solutions” that might include replacing XRP, if needed, in the U.S.
“That certainly could be part of the solution. I think there is certain strangeness that SEC has kind of picked winners here. It said that Bitcoin is not a security, it said that Ether is not a security, but really everything else, I think, is kind of at risk. Particularly, given what they have done in the lawsuit against Ripple. But, you know, we could do that.”
Jeremy Hogan, a well-known solicitor, recently replied to a related query in an interview. Citing the decision in the Kik Interactive case as the “worst-case situation,” Hogan argued that a similar verdict would not be a deathblow to Ripple, and XRP will not be reduced to “none.”
Garlinghouse also denied the SEC’s arguments that the executive and the company were not as clear as they had publicly claimed. In addition, the executive claimed that Ripple and himself are more straightforward “than anyone” in the cryptocurrency industry.
It should be remembered, though, that the CEO has declined to publicly answer any damning claims that he made $150 million from XRP revenues.
“I’m really looking forward to the facts coming out in the court case. You know this is something that I haven’t commented on publicly because the wheels of justice kind of move slowly. It’s important that we get the facts out. We heard one side of the story from the SEC.”
Stablecoins and DeFi were also listed in the interview. When asked whether the rise in these industries presents a danger, the Ripple executive responded in the negative, stating that the blockchain company is focusing on solving a cross-border payments crisis.
Ripple introduced a private version of the XRP Ledger for central banks recently. In its white paper titled “The Future of CDBCs,” the blockchain company wrote about how XRP could serve as a bridge for different central bank digital currencies.
“One example of a neutral bridge is the digital asset XRP, which can be used to bridge two different currencies quickly and efficiently.”