The lawsuit filed against Ripple's co-founders was dropped. However, the process for institutional sales of XRP will still continue. So the match must end 4-0 or 3-1. The Ripple front, which achieved 3 major successes in the legal fight, enabled XRP Coin to reach the limit of 0.52 dollars at the time of writing.
The first statement made by Ripple is as follows:
“Ripple, a leader in enterprise blockchain and crypto solutions, today announced that CEO Brad Garlinghouse and Chief Executive Officer Chris Larsen have been cleared of all allegations brought against them by the U.S. Securities and Exchange Commission (SEC). In a stunning surrender by the government, the SEC voted to dismiss the charges with prejudice.
This victory is the third consecutive victory for Garlinghouse, Larsen, and Ripple and follows on the heels of the July 2023 decision declaring that “XRP is not a security in itself” and the October decision denying the SEC’s request for a provisional appeal.”
Ripple CEO Brad Garlinghouse said;
“For nearly three years Chris and I have been subjected to false allegations from a rogue regulator with a political agenda. Instead of going after criminals who stole customer funds on offshore exchanges, the SEC went after the good guys who had set up a regulated business based in the United States. “Now that the SEC has brought down the curtain on their ridiculous theatrics against Chris and I, we look forward to the day when this chapter can be closed once and for all.”
Chairman of the Board Chris Larsen said;
“Today, we have been legally vindicated and personally saved in our fight against a disturbing attempt to abuse the rules to advance a political agenda to strangle crypto in America. It is a trauma to be forced to defend ourselves against a malicious attack that has been flawed since the day it was filed. Although justice ultimately prevailed, the government's actions that led to this point raise questions about the source and motivation of this case. “It is an abuse by the administrative state for politically connected special interest groups with clear and proven conflicts of interest to drag our names through the mud in order to destroy us personally and tarnish our reputation.”