SEC plans to Sue Ripple: Fortune Magazine report

Ripple CEO Brad Garlinghouse told Fortune  Magazine today that he expects the SEC to sue the company soon for selling unlicensed securities. XRP, Ripple’s cryptocurrency, is valued at $23 billion, the third largest cryptocurrency by market cap

Garlinghouse said that he believes the SEC will name him and co-founder Chris Larsen as co-defendants in a lawsuit, which he expects to be brought in the near future.

The price of XRP dropped more than 13% today.

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