Although Ripple was hit by the SEC lawsuit in December 2020, it had the best year ever, CEO Brad Garlinghouse announced.
The best year ever for Ripple
Remembering Ripple’s experience of a year-long litigation with the SEC, Brad Garlinghouse, CEO of the company, reached out to Twitter.
The Twitter. consists of a total of 10 tweets thread from Garlinghouse illuminate many things. First, the CEO mockingly announced that it was a year since the SEC filed the lawsuit against Ripple for failing to register as a security despite trading on an open market for 13 years.
A year ago today, the @SECgov Lawsuit filed against @Ripple, @chrislarsenSF and I, who claim that XRP – a public cryptocurrency that has been traded on the open market since 2013 – should have been registered as a security. 1/10
– Brad Garlinghouse (@bgarlinghouse) December 22, 2021
He stated that crypto faces a lot of “shitty things” year-round, but it is certainly too limited a thing. But what has been said in the past stays painfully true to the moment as the SEC’s lawsuit is actually an attack on crypto in the US, he added. Garlinghouse noted:
“Some took the SEC allegations at face value / thought this was a one-off, but no more.”
Ripple’s year in numbers
While he accepted That 2021 was a breakthrough year for crypto as a whole, he shared some numbers in particular to highlight Ripple’s performance.
Garlinghouse wrote that despite the ongoing litigation, RippleNet had its best year since its inception as it grew tremendously worldwide over the course of the year. Currently, Ripple’s ODL service is present in 20 countries around the world.
In addition to a quarter-on-quarter growth of 130% in ODL transactions, RippleNet’s transactions have also doubled since the third quarter of 2020.
After all, ODL transactions have increased 25 times since the third quarter of 2020. However, the US ODL flows are stagnating thanks to the lawsuit.