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A year ago, on December 22, the US Securities and Exchange Commission (SEC) started a lawsuit against the blockchain company Ripple and its executives Chris Larsen, and Brad Garlinghouse. The regulator says XRP, the native crypto of Ripple, is unregistered security, and Ripple Labs wasn't allowed to sell XRP tokens.
Ripple CEO Brad Garlinghouse tweeted about the case, summing up how the company performed since its start. He mentioned that XRP is public crypto and has been traded in the market since 2013. In a thread, Garlinghouse once again pointed out that the lawsuit isn't just against Ripple, but it's an attack on crypto in the US.
Writing about the crypto market in 2021, Ripple CEO said in 2021 the industry has seen growth in awareness and acceptance. He said it's incredible to see fewer maximalists and more builders entering the industry. As for Ripple, Garlinghouse proudly announced that despite the lawsuit 2021 was the strongest year for the protocol.
Proud to say it was @Ripple’s strongest year ever (XRP-based On-Demand Liquidity payments account for 25% of $ volume across RippleNet, and ODL txns are up 25x from Q3 2020, and 130% QoQ). 4/10 https://t.co/2V2ORfzTqm
— Brad Garlinghouse (@bgarlinghouse) December 22, 2021
From Q3, 2020 XRP-based On-Demand Liquidity transactions went up 25 times. As Garlinghouse mentioned, all the growth was outside the US. The company partnered with Bhutan and Palau to build a CBDC solution. Also, Ripple created new remittance corridors between countries.
Mentioning these facts, Garlinghouse wrote about SEC chair Gary Gensler, saying that his anti-crypto approach makes crypto companies leave the US. In the end, Ripple's CEO called the community to reach out to elected senators this holiday season and urge them to act and give answers.