Ripple CEO Says 2021 Was His Firm’s Strongest Year Despite SEC Lawsuit

by Ilan Hazan
7 ways to make with crypto

Ripple CEO Says 2021 Was His Firm’s Strongest Year Despite SEC Lawsuit

Ripple CEO Brad Garlinghouse say 2021 was the FinTech firm’s strongest year ever despite the company’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). 

In a series of tweets sent out on December 22, Garlinghouse called 2021 a “watershed year for crypto,” noting that acceptance and awareness for digital assets is providing an opportunity for billions in the global financial community. He highlighted the waning “maximalism” of crypto, saying it paved the way for more builders to join the industry. 

Garlinghouse also claimed that 2021 was Ripple’s “strongest year ever.” The CEO noted that XRP-powered on-demand liquidity (ODL) payments account for 25% of the volume across RippleNet, with ODL transactions up 25 times what they were in the third-quarter of last year. 

Ripple’s CEO commented on the company’s ongoing lawsuit — initiated by the U.S. SEC in December 2020 — calling it an attack on crypto in the US. He criticized SEC Chair Gary Gensler’s “aggressively anti-crypto approach” to companies, causing some to move outside of the country. He warned that such a stance could have ramifications for the development of Web3. 

Garlinghouse also went after the SEC’s refusal to investigate the legal status of Ethereum, and argued that the regulatory body should be pushing for clarity and consistency in order to create a level playing field. 

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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