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XRP News: Ripple CEO Teases Major Announcements At Swell Event

Ripple CEO Brad Garlinghouse has expressed his anticipation for the upcoming DC Fintech week, dropping major hints and teasers about significant announcements and heated discussions slated for the event. 

Ripple Swell Event Sparks Community Interest

Chief Executive Officer of Ripple, Brad Garlinghouse has teased the X (formerly Twitter) community with hints of discussions and ideas about the upcoming Ripple Swell 2023 event scheduled for November 8th and 9th in Dubai. 

Garlinghouse stated that he was always excited about the DC Fintech Week which occurred every year. He emphasized the importance of the event in bringing together different people with similar interests in one room interacting and sharing their different ideas and perspectives on substantial topics and issues in the finance and blockchain industry. 

In his post, Garlinghouse dropped a cryptic message, likening the Ripple Swell event to a “proverbial cage match.”

“Every year I look forward to DCFintechWeek — everyone from the public to private participants in one room, discussing (and sometimes debating) the substantive issues with no holds barred. wondering…a proverbial cage match?!” Garlinghouse stated. 

Some of the headlining speakers excluding Garlinghouse appearing at the DC Fintech Week include United States Under Secretary of the Treasury for Domestic Finance, Nellie Liang, CEO of Grayscale Investments, Michael Sonnenshein, Chairman of the United States Securities and Exchange Commission (SEC), Gary Gensler, Vice Chair of Supervision at the Federal Reserve, Michael Barr, and others.

As the Ripple Swell event approaches, many crypto enthusiasts are looking forward to witnessing what could be a defining moment in the Ripple ecosystem as the event may provide more insight into Ripple’s future developments and present challenges.

Ripple price chart from Tradingview.com (XRP News)

Garlinghouse To Share Stage With Gensler At Swell Event

Following the conclusion of one of the most heated high-stakes legal battles in the crypto space, Garlinghouse and SEC Chair Gary Gensler are set to share a stage in the DC Fintech Week, discussing and possibly debating on various topics in the fintech and blockchain space. 

The legal battle between Gensler and Ripple’s top Executives Chris Larsen and Garlinghouse has been one of the most closely watched conflicts in the crypto space. The SEC sued both executives, accusing them of violating US securities laws by supporting the sales of XRP tokens in unregistered security offerings to investors. 

The regulator eventually dropped all charges and claims against Larsen and Garlinghouse earlier in October, earning Ripple a partial win against the agency. 

Many XRP community members have rallied behind Garlinghouse’s label of the Ripple Swell event as a “proverbial cage match.” This sentiment is particularly strong when considering participants like Gensler and Garlinghouse who have a history of legal disagreements and Grayscale and US SEC who are currently in a legal dispute concerning the approval of Spot Bitcoin ETFs. 

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Ripple CEO Rebuts WeBlogs Founder’s Claims That XRP Is A Security

WeBlogs Founder Jason Calcanis, who also doubles as an angel investor with a large Twitter following, made controversial statements about the XRP cryptocurrency yesterday, calling it a security. Calcanis’ opinions of the native digital currency associated with the Ripple company caused a stir of reactions from the crypto community, earning responses from the likes of Ripple CEO Brad Garlinghouse and pro-XRP lawyer John Deaton.

Earlier this week, Garlinghouse was featured as a keynote speaker at the Dubai 2023 Fintech Summit and used the platform to talk about the internal costs of the ongoing legal battle with the United States Securities Exchange Commission (SEC).

Related Reading: Only 6% Left Until Cardano Hits Max Capacity, What This Means For ADA

The CEO’s statements on the monetary costs of the Ripple-SEC legal battle were seen to be the origin and factor driving Calacanis’s controversial remarks.

 

XRP Not A Security, CEO Defends

The heated legal battle between Ripple and the US Securities Exchange Commission (SEC) began when the US regulator accused the company of selling XRP in an unregistered security offering. While the company has made countless efforts over the years to debunk this claim, CEO Brad Garlinghouse mentioned at the Dubai Fintech Summit that Ripple will have spent $200 million fighting the SEC lawsuit.

On making this statement at the summit, Weblogs founder Jason Calcanis took to his official Twitter handle, saying, “XRP is obviously a security,” and it would have cost little for the team at Ripple to have registered it as a security and played by the rules just like everyone else in the industry does all day long.

The tweet by Calcanis was met with counter comments and opinions from top players in the crypto industry, including Garlinghouse.

The Ripple boss responded to Calcani’s tweet calling it wrongful and an embarrassment as there is no framework to register digital assets in the US.

 

Pro-XRP lawyer John Deaton also chipped in comments in defense of the cryptocurrency by saying that claiming Ripple sold XRP as a security is quite different from being a security itself.

Deaton responded to Calcanis, saying, “XRP is a line of code inside software. How do you register? ‘to have registered it as a security and played by the rules like everyone else.’ Where did ETH, ADA, ALGO, XLM, etc. register?” Deaton countered.

Ripple Remains Undeterred

Ripple continues to persevere amid crypto regulatory uncertainties in the US and speculations about when a ruling will finally come in their legal battle with the US Securities and Exchange Commission. As stated earlier, Garlinghouse mentioned the large sum of $200 million spent defending the company against the SEC lawsuit, which shows their commitment to emerging victorious.

Related Reading: XRP Price Prediction: Ripple Plunges to $0.42: Can Bulls Save the Day?

Also, a major highlight from the Dubai Fintech Summit was an announcement by Ripple’s CEO Brad Garlinghouse on the company’s expansion in Dubai, as the country offers reasonable crypto regulations and operational guidelines.

At press time, XRP price experiences a decline observed across the global cryptocurrency markets.

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