Letter from Ripple CEO to employees: don’t worry
Ripple chief executive Brad Garlinghouse, in a letter to shareholders and employees about the latest developments, urged them not to worry and stressed that the process could take a long time.
Ripple chief executive Brad Garlinghouse has written to shareholders and employees about the latest developments. The letter was also shared via Ripple’s website.
Garlinghouse, who assured shareholders that the company would prove its right in court, stated that this was an attack not only on XRP, but also on the cryptocurrency world in general terms:
“It may be Ben and Chris in the case file, but this is an attack on cryptocurrencies. XRP is a coin that will represent all altcoins in this case. There could be a snowball effect here. Coinbase vs. for none of the market makers like this, there is good news from here. For every company that works with digital assets, this is a terrible development across the industry. But Ripple will prove his point in court.”
Garlinghouse stated that XRP was not an investment contract and that XRP owners had no connection to the Ripple company, while XRP’s market value, as with securities, was not correlated with Ripple’s activities and movements.:
“We are not only on the side of the law, but we will also be on the right side of history with this case”
Garlinghouse also urged not to worry:
“I don’t want you to worry. We’ll get through this, and we’ll prove our point in court. We have a great legal team, and like I said, we’re on the right side of the law. However, I want you to know that the functioning of the legal system is slow, and this is only the beginning of a long process.”
It had been rumored for some time that Ripple wanted to move his headquarters to a country outside the United States. Here, Singapore, the United Kingdom and Japan were among the candidates, but incoming information suggested that Japan was the most likely country… Garlinghouse had previously revealed that US customers held just 5 per cent of Ripple’s customer rate.
Within 24 hours of news of the lawsuit, there was a drop in the price of XRP approaching 30 percent. The biggest 3. the cryptocurrency is currently trading at around $ 0.35.