Brad Garlinghouse, CEO of Blockchain Overseas Remittance Project Ripple, said, “We will spend more than $100 million in litigation costs with the U.S. Securities and Exchange Commission (SEC).”



According to Finnbold on the 16th (local time), CEO Gallinghouse said at the Consensus 2022 in Austin, Texas, on the 15th, “It is expected to cost that much by the time the lawsuit is over, and the fight is not just for Ripple, but for the entire industry.”

He went on to say, “The SEC knows that most cryptocurrency companies lack the cost of raising legal objections. Therefore, if there is an argument, these companies will continue to demand an agreement and the companies will have no choice but to agree to it. Ripple is proceeding with a legal lawsuit with the SEC because it feels that regulatory clarity is needed for the cryptocurrency industry, he explained.



Earlier, CEO Garlinghouse said at a Collison conference last month, “If Ripple loses the ongoing ‘unregistered securities sales’ lawsuit with the SEC, we will leave the U.S. completely.” We can do that, not that we can do that,” he said.



Meanwhile, as of 10:24 p.m. on July 16 (Korea Standard Time), cryptocurrency XRP, which ranks seventh in market capitalization based on coin market caps, is being traded at $0.3408. This is an increase of 1.33% compared to 24 hours ago. The XRP has been traded between $0.3282 and $0.3414 in the last 24 hours.