Ripple (XRP) CEO makes big confession: “We made a mistake”

Ripple CEO Brad Garlinghouse made important statements about XRP during his speech at DC Fintech Week.

Amid expectations that the $XRP price will experience a big increase, the tension between Ripple and the SEC continues to escalate. The US regulatory agency SEC continues to insist that Ripple made unregistered securities sales. Although the court ruled that the $XRP purchased by individual investors is not a security, the sales made to institutional investors remain uncertain.

Commenting on the latest developments, Ripple CEO Garlinghouse admitted that the company should have contacted US regulators much earlier. Garlinghouse said, “We are now trying to make up for lost time.”

Ripple’s partial victory in the ongoing court case with the SEC had increased the XRP price. The SEC’s appeal changed things and caused the XRP price to fall. XRP investors are caught in uncertainty amid the legal processes.

Ripple side states that it will continue to fight despite all the efforts of the SEC and will not victimize XRP investors. On the other hand, the company continues its work in the blockchain field.

Ripple CEO Brad Garlinghouse expressed that he regrets not cooperating with regulators sooner. The CEO noted the following statements; “When I look back, I regret it. I think we made a mistake by not taking action sooner and we are trying to make up for lost time to some extent.”

Garlinghouse addressed the crowd during the speech. Ripple’s CEO said that the US lags behind other countries in terms of crypto regulations. Targeting SEC Chairman Gary Gensler, Garlinghouse said, “Gensler is establishing a reign of terror against the sector.”

Referring to the FTX events that shook the agenda with Sam Bankman-Fried in the lead role, Garlinghouse stated that the lawlessness in question harmed the crypto sector and Ripple.
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