SwanBitcoin445X250

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Soon after Ripple CEO Brad Garlinghouse said[1] that SEC was planning to sue the firm over its sale of XRP, Billionaire investor and Galaxy Digital founder Mike Novogratz took to Twitter to speak about the recent developments. On 22 December, Novogratz said[2] that he found it strange that Jay Clayton “waited years” to sue Ripple. Novogratz did not take sides regarding the case, but he noted that SEC declared that both bitcoin and Ethereum were not securities. He said: 

While I won’t comment yet on what this means for $XRP or other 2017 launched coins, $BTC and $ETH seem to have an SEC pass.  

I do find it strange that Clayton waited years to do this.

SEC has filed lawsuits against several other crypto entities. But in the event that SEC files the lawsuit against Ripple, its CEO Brad Garlinghouse and co-founder Chris Larsen would be defending the case. According to Fortune[3], the lawsuit does not have a specific date and has not yet been filed at press time. 

In response to this, Brad Garlinghouse said that with this move, “SEC voted to attack crypto.” He claimed that “in his final act” Chairman Jay Clayton picked BTC and ETH as “winners” or perhaps as commodities. He added that Clayton was also trying to limit US innovation in the crypto industry “to BTC

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