US SEC Drops Ripple Lawsuit

In a massive development for the crypto industry, the US Securities and Exchange Commission (SEC) has agreed to drop its lawsuit against Ripple. The firm’s CEO, Brad Garlinghouse, made this revelation about the Ripple lawsuit, which has sparked a massive surge in the XRP price.

US SEC Officially Drops Ripple Lawsuit

In an X post, Ripple CEO Brad Garlinghouse revealed that the US SEC had dropped the five-year-long Ripple lawsuit, which began in 2020. This is still subject to the Commission’s vote. In his words, Garlinghouse said,

This is it. The moment we have been waiting for. The SEC will drop its appeal, a resounding victory for Ripple, for crypto, every way you look at it. The future is bright, let’s build.

In his announcement, Garlinghouse also reflected on the Ripple lawsuit, stating that it was clearly “doomed”  from the start. He remarked it was the first major shot fired at the crypto world and that his company was the first to fight the SEC’s overreach.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.

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