Ripple CEO Brad Garlinghouse Criticizes Inaccurate Reporting About XRP

Ripple CEO Brad Garlinghouse is criticizing the misreporting of XRP by various news outlets. Judge Analisa Torres ruled that the popular altcoin is not a security, marking a major victory for Ripple. Although the ruling was made about a year ago, Garlinghouse says the media continues to misrepresent XRP.

Garlinghouse is directing his criticism at CoinDesk, a major U.S. crypto news company, among others. According to him, the platform has wrongly suggested that XRP could potentially be considered a security, which is in conflict with Judge Torres’ ruling. Furthermore, CoinDesk is said to have misrepresented the words of another judge, named Hamilton, which wrongly suggested that XRP is a security.

The issue is sensitive because the status of the XRP token plays a crucial role in the lawsuit between Ripple and the Securities and Exchange Commission (SEC). The US authority accuses Ripple of wrongfully selling unregistered securities to institutional investors during the Initial Coin Offering (ICO) of XRP. The SEC is demanding a fine of more than $100 million for this.

Garlinghouse stresses that there is no doubt that XRP is not a security. He places the popular altcoin in the same category as Bitcoin (BTC).

Ripple lawsuit outcome still uncertain

While the Ripple CEO is certain about XRP’s status, the outcome of the lawsuit with the SEC is far from certain. Although Judge Torres ruled favorably for the American blockchain company in 2023, many lawyers agree that her words are not final. This could negatively impact XRP’s price, which has been in a downward trend for several months.

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