Ripple CEO Says Legal Expenses Surge To $200M, Blames SEC For Bullying
Portfolio Pulse from Murtuza Merchant
Ripple's legal expenses have surged to $200 million, doubling from the $100 million reported in July 2022, due to the ongoing legal tussle with the U.S. Securities and Exchange Commission (SEC). Ripple's CEO, Brad Garlinghouse, criticized SEC Chairman Gary Gensler for his aggressive stance. Amidst the regulatory turmoil in the U.S., Ripple and Coinbase Global Inc. are considering Asia for future expansion.
September 21, 2023 | 7:04 pm
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NEGATIVE IMPACT
Ripple's legal expenses have surged due to the ongoing legal tussle with the SEC, which could impact the value of Ripple's cryptocurrency, XRP.
The ongoing legal battle with the SEC and the surge in legal expenses could negatively impact the value of Ripple's cryptocurrency, XRP, in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Coinbase Global Inc. is considering Asia for future expansion amidst the regulatory turmoil in the U.S.
The news about Coinbase considering Asia for future expansion is relevant as it indicates the company's strategy to mitigate regulatory risks. However, it's uncertain how this will impact the stock in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50