Brad Garlinghouse, the CEO of Ripple (XRP), has just announced plans for a “proper victory party” for members of its community in New York City on September 29 to celebrate the recent partial win against the United States Securities and Exchange Commission (SEC).
On August 29, Garlinghouse took to X to reveal the grand celebration in the heart of New York City following Ripple’s monumental win against the SEC after U.S. District Judge Analisa Torres ruled that most sales of the XRP token didn’t qualify as securities transactions.
As promised – it’s time for that proper victory party.
The last few years have been quite the journey and I look forward to sharing a celebratory toast on Sept 29 in NYC! https://t.co/9YDQGnK6Pg
— Brad Garlinghouse (@bgarlinghouse) August 28, 2023
Grand Celebration for the entire Crypto Industry
It seems, the upcoming event will also serve as a platform for reflecting on the broader implications that seek to galvanize other crypto-focused companies to resist the American regulator’s attempt to assert its jurisdiction over the industry. Garlinghouse wrote,
“As promised – it’s time for that proper victory party. The last few years have been quite the journey and I look forward to sharing a celebratory toast on Sept 29 in NYC!”
Over the recent past, the digital asset industry has been in a tug-of-war with the SEC and its Democratic chair Gary Gensler, who has described the crypto market as a “Wild West” riddled with fraud.
Saying most crypto tokens are securities, the SEC has cracked down on crypto trading platforms, including the top crypto exchanges – Binance and Coinbase, in an effort to bring the industry under its oversight.
The announcement was met with an outpouring of support on social media from the XRP community with users taking to social media platform X to back the event. David Schwartz, the Chief Technology Officer at Ripple chimed in to the celebratory vibe stating, “Guessing how many of you I will see at both ApexDevSummit and the Community Celebration… hopefully a lot!”
Meanwhile, John Deaton, a prominent pro-XRP lawyer, explained how eagerly the Ripple community has been waiting for the recent win in the more-than-two-years-long legal tussle with the SEC that has managed to set a legal precedent within the crypto space, including investors, blockchain innovators and lawmakers worldwide.
I know a little something about the XRP community and how hard and long they fought for clarity. I have 75K email addresses and cell phone numbers to prove it. All I can say is: I hope Ripple has a large venue. https://t.co/HuMQleYR4U
— John E Deaton (@JohnEDeaton1) August 28, 2023
Aside from the celebrations, the victory event stands as a testament to the transformative power of innovation and resilience, setting a precedent that should have a positive impact not only on XRP but also on the broader crypto market. It could also prompt other nations to take cues and take initiatives to further the development of the underlying technology.
Ripple Vs SEC Gear Up for Another Showdown
It comes shortly after the upcoming trial date for another courtroom battle between Ripple and the SEC was unveiled. On August 24, Eleanor Terrett, a journalist at Fox Business, revealed a crucial document that was shared by the SEC with Judge Torres of the U.S. District Court for the Southern District of New York, disclosing the upcoming trial.
🚨NEW: The @SECGov has provided Judge Torres with dates they are available and unavailable for trial in the second quarter of 2024. 👇🏼 pic.twitter.com/44ipW54QpF
— Eleanor Terrett (@EleanorTerrett) August 23, 2023
As per the document, the court-room battle might take place during the second quarter of 2024 as both Ripple and the SEC have signaled their intention to move forward with the appeal after the court approved the regulator’s request to file an interlocutory appeal in the case against XRP earlier this month.
