Ripple Disaster: The SEC Lawsuit Destroys XRP; Crypto Tumbles Over 20%; Brad Garlinghouse Reacts

Just the other day, we were reporting that Ripple is about to face a massive SEC lawsuit.

Ripple said that it would defend itself against a lawsuit from the SEC that is claiming the company violated investor protection laws when they sold XRP.

“The suit, which hasn’t yet been filed, would be one of the highest-profile SEC actions against a cryptocurrency pioneer, just as the regulator’s chairman is departing at the end of the Trump administration,” according to the prestigious publication.

XRP price is going down following the news, and at the moment of writing this article, XRP is trading in the red, and the coin is priced at $0.364473.

Various reactions on Twitter

Crypto Twitter has various opinions about what’s happening with Ripple and XRP and important names are reacting.

Scott Melker posted this message:

Tone Vays also reacted to all this, and he dropped this message:

Brad Garlinghouse reacts

Brad Garlinghouse said that the SEC is attacking crypto.

Here’s what more he had to say:

As The Verge notes, the SEC says that they raised more than $1.3 billion through an unregistered securities offering.

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.
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