The US SEC has formally filed a lawsuit against Ripple, its CEO and co-founder
Rhythm BlockBeats news, on December 22, according to the official website of the United States Securities and Exchange Commission (SEC), the regulatory agency has formally filed a lawsuit against Ripple and its CEO Brad Garlinghouse and co-founder Chris Larsen The lawsuit alleges that the defendants raised more than $1.3 billion in continuous, unregistered digital asset securities offerings starting in 2013, in violation of the registration requirements of the Securities Act, and seeks injunctive relief and civil penalties, among others .
According to the SEC’s complaint, Ripple, company co-founder, executive chairman of the board of directors, and former CEO Christian Larsen (Christian Larsen), the company’s current CEO Bradley Garlinghouse (Bradley Garlinghouse) for the company The business raised funds. The SEC accused Ripple of distributing billions of XRP in exchange for non-cash considerations, such as labor and market-maker services. In addition to organizing and promoting XRP sales used to fund the company's business, Chris Larsen and Brad Garlinghouse conducted unregistered personal sales of XRP totaling approximately $600 million.
Data Brad Garlinghouse tweeted yesterday that the Ripple team did not seem to reveal a signal of reconciliation: "There is no doubt that we are ready to fight and win-this battle has just begun. ”
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