The Ripple team tried to reach a compromise with the Securities and Exchange Commission (SEC). However, the American regulator has abandoned any agreements, the head of the company, Brad Garlinghouse, tweeted.
Recall that the SEC filed a lawsuit against Ripple in December, in which it accused the company of placing securities that did not pass the appropriate registration.
The total amount of funds raised from the sale of securities (which include XRP tokens) amounted to $ 1.3 billion, the plaintiff said. After that, a rapid drop in the value of the altcoin began, behind the development of which Ripple is behind.
Garlinghouse tweeted that he would not be able to reveal details yet. However, it is safe to say that the Ripple team tried to reach a compromise with the SEC so that the company would continue to work on innovation, and the market would remain stable.
Garlinghouse stressed that his company did not pay any exchange to list the XRP token. He urged the community to be patient and added that Ripple would keep investors informed of all the details of the lawsuit, which is due to open in a few weeks.