Although Ripple CEO Brad Garlinghouse proudly claimed victory during a Senate hearing regarding the prolonged XRP legal battle, his statement has sparked controversy. Former U.S. Securities and Exchange Commission (SEC) lawyer Marc Fagel challenged Garlinghouse’s assertion, pointing to the $125 million penalty Ripple was ordered to pay.

Garlinghouse Declares Victory – Former SEC Lawyer Pushes Back

During Wednesday’s Senate testimony, Brad Garlinghouse described Ripple’s four-year legal battle with the SEC as a success, stating:

"Thankfully, after four years of legal fighting, we won."

However, Marc Fagel, former SEC attorney, offered a much different take. He argued that Judge Torres’s ruling was only partially favorable to Ripple and cited major penalties and restrictions placed on the company. On X (formerly Twitter), Fagel wrote:

“‘We won’… except the part where the court found we illegally raised hundreds of millions through unregistered securities sales, barred us from doing it again, and hit us with a $125 million fine.”

XRP Community Reacts, Lawyer Denies Bias

Fagel’s remarks triggered backlash from XRP supporters, some of whom accused him of being biased or a Bitcoin maximalist. He rejected those claims, stating:

“I’ve never owned any crypto. Sorry. Why are you upset that I’m just stating a few obvious facts?… These aren’t up for debate.”

Fagel had previously downplayed expectations of a potential settlement between Ripple and the SEC. His latest statement appears to aim at grounding public opinion with a more realistic perspective.

Garlinghouse: Ripple’s Win Was a Victory for the Entire Industry

Despite the criticism, Brad Garlinghouse stood firm. During the hearing, he emphasized that the case wasn’t just about Ripple but had implications for the entire U.S. crypto sector:

“Ripple was the first major U.S. crypto company the SEC sued. A loss in this case would have been the death knell for the industry in the U.S.”

He added that the court clearly ruled XRP itself is not a security, which he considers a critical win.

Garlinghouse also used the hearing to urge the Senate to implement clear regulatory guidelines for cryptocurrencies. He stressed that legal uncertainty stifles innovation and that the U.S. needs a framework that promotes growth while protecting investors.




#SEC , #RippleVsSEC , #Ripple , #xrp , #CryptoCommunity

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!

Notice:

,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“