Ripple CEO Brad Garlinghouse recently clarified misunderstandings surrounding a California court ruling, emphasizing the decision as a significant victory for XRP. Addressing errors in crypto media portrayals, Garlinghouse corrected inaccurate reports about the court’s conclusions.
Garlinghouse highlighted that Judge Phyllis Hamilton dismissed all class action claims against Ripple, confirming that the company did not breach securities laws in its dealings with XRP. This dismissal reinforces the stance that XRP is not a security, a determination previously affirmed by a New York District Court.
Garlinghouse is preparing to address allegations stemming from a 2017 statement, which will be examined in an upcoming trial under state law. He reiterated his commitment to standing by his words, despite accusations of issuing misleading statements.
Ripple’s Chief Legal Officer, Stuart Alderoty, confirmed that XRP’s non-security status remains valid, further supported by Judge Hamilton’s ruling. The only remaining claim pertains to Garlinghouse’s 2017 comments, which will soon be evaluated by a jury.
Ripple’s leadership aims to settle investor and observer concerns about the legal challenges facing XRP. This development marks a crucial step in Ripple’s ongoing legal journey, showcasing its efforts to navigate complex regulatory environments.