Ripple CEO Comments On Court Ruling Reducing SEC's $2 Billion Demand
According to BlockBeats, on August 8, Ripple CEO Brad Garlinghouse commented on a recent court ruling regarding the sale of XRP to retail customers. The ruling determined that Ripple''s actions did not violate federal securities laws. Garlinghouse stated on X that the SEC had initially demanded $2 billion, but the court recognized the excessive nature of this demand and reduced it by approximately 94%. He expressed respect for the court''s decision and emphasized Ripple''s commitment to continuing its business development. Garlinghouse described the ruling as a victory for XRP, the industry, and the rule of law, noting that the SEC''s resistance against the entire XRP community has now been eliminated.