Yello Paradisers! In a landmark decision, the US Securities and Exchange Commission (SEC) has withdrawn its lawsuit against Ripple founders, Brad Garlinghouse and Chris Larsen. The case was dismissed following a mutual agreement between the involved parties, negating the need for the previously scheduled hearing in April.

📰Garlinghouse’s Statement

Ripple CEO, Brad Garlinghouse, expressed his sentiments, stating:

“Today was an even better day. Ripple: 3 SEC: 0. Chris and I faced the SEC’s harsh scrutiny, not for any fraudulent activities but as a blatant attempt to tarnish our personal and company reputation. Despite the SEC’s covert meetings with industry figures and their failure to safeguard US consumers and businesses, we stand vindicated. The wasted taxpayer dollars on this case are concerning, but today, justice has been served.”

📰Larsen’s Take on the Matter

Ripple Chairman, Chris Larsen, echoed similar sentiments:

“Today marks our legal and personal vindication against the SEC’s misguided efforts to undermine cryptocurrencies in the US. It’s disheartening that we had to defend ourselves against such a baseless attack. The actions leading up to this lawsuit raise doubts about its origins and motivations. It’s evident that certain interest groups with vested interests aimed to tarnish our reputation and destroy a company we’ve passionately built over the years.”

This development marks a significant turn in the ongoing tussle between cryptocurrency entities and regulatory bodies, highlighting the challenges and complexities of the evolving digital asset landscape.