Ripple’s CTO Hints at Possible Shutdown in US Amid SEC Lawsuit

Summary:

• Ripple’s CTO, David Schwartz, recently suggested that Ripple may have to shut down its operations in the United States due to ongoing legal battle with the SEC.
• This statement caused concern among crypto enthusiasts, who speculated about the implications of such a move.
• Ripple has not made any decision yet but XRP is still trading at $0.39 with modest gains of 2.3%. John Deaton has said that he confident Ripple will win against the SEC.

Ripple’s David Schwartz Raises Red Flag

Ripple’s CTO, David Schwartz, recently suggested that Ripple may have to shut down its operations in the United States due to ongoing legal battle with the SEC. This statement caused concern among crypto enthusiasts, who speculated about the implications of such a move.

SEC Filed Lawsuit Against Ripple

The SEC filed a lawsuit against Ripple in December 2020 alleging that XRP is an unregistered security. However, Ripple has denied these allegations and the legal battle between them continues on till this day.

David Schwartz Comments On The Situation

In a recent Twitter thread, David Schwartz commented on this situation and stated that „we can’t succeed if the industry doesn’t succeed,“ while also expressing concern about having to „walk through a door and slam it shut behind us.“ He hoped that they wouldn’t have to make such a choice but couldn’t promise it either.

Community Reacts To The StatementImplications Of A Shutdown For Ripple And XRP