The latest developments in the Ripple case: looking forward to reconciliation and pointing out that the United States has a "risk of falling behind"

Recently, Ripple CEO Brad Garlinghouse visited Bloomberg and CNN to respond to the latest developments in the Ripple case.

Garlinghouse said that all of Ripple attaches great importance to the SEC's prosecution this time, and believes that Ripple will eventually win the lawsuit.

"I think we're going to win, but as you said, there's a chance that the court system won't go in that direction (by implication, the court may not necessarily do what we want and may lose the case)."

Garlinghouse added that since the SEC sued, Ripple is still expanding its customers around the world, and has successively signed customer agreements with more than 20 financial institutions around the world. “I think we’re going to continue to see our network grow rapidly with non-U.S. customers. But the thing is, it’s going to drive blockchain innovation and crypto activity outside the U.S., which I don’t think is in the U.S.’s interest anyway. "

Ripple's executive chairman and others launched the "Changing the Code, Not the Climate" campaign to promote the Bitcoin community to reduce energy consumption: On March 29th, Ripple's executive chairman and co-founder Chris Larsen and Greenpeace and other climate activity teams are Launched a \"Change the Code, Not the Climate' campaign aimed at putting pressure on the bitcoin community to change its excessive power-hungry mining practices. The campaign is buying ads in major publications next month.

Larsen said he plans to commit $5 million to fund the event, in part because he doesn’t think bitcoin will continue to gain investor support unless it changes. He also said that Bitcoin's power consumption problem can be solved through soft forks or hard forks, \"With the changes in Ethereum, Bitcoin has become a heterogeneous\".

But Chris Bendiksen, a bitcoin researcher at CoinShares, said: I think the chance of bitcoin moving to PoS is exactly 0%. The Bitcoin community has no interest in breaking the security of the protocol by making such a move. (Bloomberg) [2022/3/29 14:24:08]

How will Ripple handle its US business if it loses the lawsuit? Chatterley explained that there will be an "alternative solution" specifically for U.S. customers (not yet mentioned).

Sound|Anthony Pompliano: May have the opportunity to interview Ripple CEO recently expressed "confusion about the XRP demand scenario": Morgan Creek Digital co-founder Anthony Pompliano tweeted today that he was introduced to the Ripple/XRP team and will likely contact And interview Ripple CEO Brad Garlinghouse. He asked netizens for interview questions, and the community gave their opinions one after another. But so far, the jury is still out on whether the interview will actually take place. Pompliano said he would prefer three or more people to participate in the interview, but as of press time, neither Garlinghouse nor the Ripple team responded as to whether they were interested in participating in the discussion.

It is reported that Pompliano said in a recent interview that it is difficult for him to understand why XRP is needed to help banks and financial institutions transfer funds: "Frankly, I am very confused about XRP. Admittedly, I think Ripple's goal is very meaningful-to help Banks move money more easily. This seems like a very rational point, and if you've ever used a bank, you know the pain. The question is - I may be lacking in understanding - how to implement the XRP needs in the process. I always say that if people could mentally separate Ripple from XRP, there would be a lot less negative things to say about Ripple - some of it about how XRP is being sold, some of it about how XRP is being used. "(The Daily Hodl)[2019/9/29]

On December 23 last year, the SEC formally sued Ripple and its two executives — CEO Brad Garlinghouse and co-founder Chris Larsen. After the incident, compliant encryption trading platforms (Coinbase, Kraken, etc.) across the United States have removed XRP token transactions. Since the case occurred the day before the former chairman of the SEC, Jay Clayton, left office, many investors believed that the lawsuit was a "conspiracy" specifically targeting Ripple.

News | Everipedia contracts have passed the security audit of dimensionality reduction security laboratory smart contracts: According to the report of dimensionality reduction security laboratory (jonhwick.io), the EOS project Everipedia has passed the dimensionality reduction security laboratory smart contract security audit. Everipedia (IQ) is the world's first peer-to-peer encyclopedia project. The team submitted its EOS smart contract security Audit application. At present, the dimension reduction security laboratory has completed all the audit work. This time, it successfully passed the audit of the dimension reduction security laboratory, which proves the security and integrity of the Everipedia contract. [2019/2/12]

“SEC Chairman J. Clayton filed a lawsuit against Ripple and myself the day before he left office. However, these actions are pointless considering XRP has been on the market for eight years. I think it is a good idea to do so the day before resignation Big mistake.” Garlinghouse said, looking forward to a settlement with the new SEC leadership team, “I am hopeful that Gary Gensler may become the new chairman of the SEC. Renew the dialogue with it and provide a clear industry message on what Ripple and cryptocurrency in general can do.”

In previous prosecutions, the SEC treated XRP as a security rather than a token, while Ethereum and Bitcoin were tokens, arousing Garlinghouse’s displeasure. "I think in the U.S., the industry is at risk of falling behind."

In his view, the lack of clarity and deterministic standards by the U.S. government will affect the development of the entire encryption industry. This is not only a dilemma facing Ripple, but also a conundrum that other cryptocurrencies will face in the future. The United States should learn from other countries such as the United Kingdom, Singapore, Japan and Switzerland to set standards for the industry.

The recent DeFi boom, Garlinghouse believes that it will not affect Ripple's business. "Ripple is not threatened by stablecoins and DeFi because it is solving a cross-border payment problem. We are communicating with many central banks around the world to discuss some stablecoin plans for the central bank to issue digital currencies. We think Ripple is solving cross-border payment problems The above approach is actually helpful.”

“The Obama administration has made it clear that XRP is considered a currency. With the new administration entering the SEC, XRP is expected to eventually become a currency,” Garlinghouse added.

According to a previous report by Finance Magnate, sources revealed that Ripple may reach a $100 million civil settlement agreement with the SEC and promise to return the funds invested by American investors in its XRP tokens. In addition, the settlement also requires Ripple to notify the SEC before issuing any cryptocurrency or digital tokens in the future. However, considering that the article was published on April 1, and the two parties have not yet had a dialogue, the news may just be an April Fool's joke.

Author | Qin Xiaofeng

Editor | Hao Fangzhou

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