Ripple tried to settle charges of conducting unregistered securities transactions with the U.S. Securities and Exchange Commission (SEC) before the federal regulator sued it in December, CEO Brad Garlinghouse said Wednesday.
In a Twitter thread, Garlinghouse addressed what he described as five “key questions” about the SEC’s suit against Ripple, though he warned that he was limited in what he could say as the case is ongoing.
“Can’t get into specifics, but know we tried – and will continue to try [with] the new administration – to resolve this,” Garlinghouse said about why Ripple didn’t settle with the SEC.
The charges came fresh off the SEC’s victories against Telegram and Kik, two messaging platforms that the regulator alleged violated securities laws due to their initial coin offerings, or token presales, ahead of launching the gram and kin tokens, respectively. (Telegram killed the gram project before it went live.)
Block.one, the firm behind the <a