The lawsuit between the American Securities and Exchange Commission (SEC) and ripple (XRP) has been running for almost two years now and the judge has still not issued a ruling. Ripple CEO Brad Garlinghouse regularly lashes out at the SEC. Billionaire and Tesla CEO Elon Musk now appears to support Ripple and Garlinghouse’s cause.
The XRP lawsuit
Ripple attorney Stuart Alderoty announced yesterday that Ripple is finally crucial documents obtained during the trial. These are statements by former SEC chief William Hinman about why ethereum (ETH) is not covered by the US securities law. According to Alderoty, it took 18 months and at least 6 court orders to get this done.
Brad Garlinghouse says on Twitter that this once again confirms that the SEC is playing a dirty game:
“The SEC wants you to think it cares about openness, transparency and clarity. Don’t believe them. When the truth finally comes out, the shamefulness of their behavior will shock you.”
no way
— Elon Musk (@elonmusk) October 21, 2022
Previously was already in the ripple news to read that Garlinhouse has nothing good to say about the SEC. According to him the US regulator is not at all concerned with enforcing the law, but with further expanding its own position of power at the expense of innocent companies and investors.
Elon Musk
Remarkably, Elon Musk also responded to Garlinghouse’s latest message on Twitter. Musk responded to Garlinghouse’s statement with, “No way.” Musk himself has also made a lot of similar statements on Twitter in which he was also quite critical of the SEC.
After all, Musk has also had issues with the regulator in the past. In 2018, Musk was indicted for securities fraud by making certain statements about his company Tesla. It’s no secret that he’s not exactly a fan of the SEC’s actions.
From the answer he gives to Garlinghouse, it can be safely said that Musk supports the Ripple team in the lawsuit against the SEC.