Brad Garlinghouse, Ripple Labs’ Chief Executive Officer, has shared his optimism over the ongoing XRP’s legal proceedings. He anticipates a final court ruling in less than four months. In the meantime, Cardano founder Charles Hoskinson has been engaging the XRP army on social media.
SEC vs. Ripple- Final Round
According to Ripple CEO Brad Garlinghouse, the long-running legal battle between Ripple and the United States Securities and Exchange Commission (SEC) is on its final wraps. However, the case could still take months before the Jury makes the final ruling.
Garlinghouse told the media at the DC Fintech Week conference on October 11, 2022, that he expects the case against his entity to be resolved at the beginning of 2023. He, however, added that it was difficult to predict as the court has not shown any signs of concluding the case.
Brad Garlinghouse stated:
“Federal judges work at their own pace, optimistically we’re talking about 3-4 months, pessimistically it could be longer than that.”
The two parties have legally been brushing shoulders in court for the past two years, with numerous motions from the two parties accompaning the long fight. However, the Jury hasn’t made any significant decision yet.
The US Securities and Exchange Commission initially filed the lawsuit in December 2020. The SEC accused the digital asset firm of conducting securities sales with its XRP token. This particular sale, according to the SEC, violated regulations on security issuance. It’s been a long process that Garlinghouse termed as a “beacon case” for the US and broader crypto community.
Charles Hoskinson Fights Back Against XRP Army
Cardano founder Charles Hoskinson has responded to a constant stream of abuse from Ripple supporters known as the XRP Army. On October 11, the Ethereum Blockchain co-founder stated:
“It came as a tremendous surprise the incredible wave of criticism I received for a single comment which was taken out of context.”
Hoskinson decided to hit back after receiving criticism from XRP fans. The critics went wild on Hoskinson after an alleged conspiracy revolving around the smart contracting platform, Ethereum, and the SEC. Charles suggested that the SEC was going after Ripple Labs’ token XRP due to poor clarification of the ecosystem and not corrupt activities.
Ripple supporters, including its CEO, believe the authority gave Ether an upper hand over Ripple’s XRP because it was not considered a security.
Charles Ravaged Ripple fans on Twitter, stating that:
“I think I’ve blocked most of the XRP trolls who continue to harass unprovoked. I’ve never seen a group so radically pick up a few words and run with it. Great job turning an ally into someone disgusted and totally checked out.”
Hoskinson has also earlier found himself in clashes with Ethereum founders. He publicly derailed the smart contracting platform after transitioning from a PoW to a PoS consensus mechanism. Charles criticized the Ethereum community on Twitter for the opposing views they portrayed on Cardano’s network.
“I always wondered why the Ethereum crowd is so obsessed with my six months there in 2014 and then after the merge it all made sense. They just seem to really like technology and events from 2014.”