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Ripple Labs is gearing up for a celebration after its significant win against the Securities and Exchange Commission (SEC) in New York City, scheduled for September 29, 2023.
The company promised to unveil more details about this event in the coming week.
?? Save the Date ??
We’re hosting a community celebration on September 29 in New York City!
Stay tuned for more details to come later this week. pic.twitter.com/PlaqPoQcte
— Ripple (@Ripple) August 28, 2023
- Brad Garlinghouse, the CEO of Ripple, also took to social media, expressing his excitement for the upcoming party and stating, “As promised – it’s time for that proper victory party.” The exec also took a moment to reflect on the difficult legal journey the company has navigated.
- In the drawn-out legal battle, Judge Analisa Torres declared in her verdict that Ripple didn’t sell XRP as an unregistered security to almost all investors (except for institutions).
- She ruled in favor of Ripple in stating that the firm’s programmatic and other distributions of XRP were not securities. Notably, the judge distinguished XRP as a digital asset, not a security.
- While Ripple is prepping for its victory bash, the battle is not over. An upcoming trial to address the SEC’s case against Ripple’s executives, Garlinghouse and Chris Larsen, is set to begin in Q2 2024.
