Kevin O’Leary pointed toward the Ripple vs US regulator legal battle and indicated the reason why he is not interested in this crypto.
In the present time, a legal battle is going on between San Francisco-based giant payment network firm Ripple and US regulatory body SEC. According to the SEC agency, Ripple firm sold around $1.3 billion of unregistered securities. On the other hand, Ripple firm CEO Brad Garlinghouse said that the SEC agency is trying to manipulate the firm’s operations and they are raising their concern on the unnecessary things, while they are doing their all work with full transparency under compliance.
In the latest, Shark Tank star, Kevin O’Leary appeared in an interview with CNBC.
Throughout the whole interview, Kevin tried to indicate that he is in favour of the United States Securities and Exchange Commission (SEC). And also he tried to give hints that it will be risky to bet on the XRP token Investment under this situation.
“I have zero interest in investing in litigation against the SEC. That is a very bad idea”
According to Kevin, investment under compliance is “necessary because that’s where the real capital is.”
Further, Kevin said that he is not interested in showing off himself as a crypto cowboy or he doesn’t want to hurt anyone because he already owns huge property and investments in real life so ” I have to be compliant”.
Ripple firm on SEC lawsuit
Many times Ripple CEO Brad Garlinghouse tried to say that a lawsuit of the SEC agency hurt the price of XRP coin.
At the end of the last year, the crypto market was following bull run momentum, and also the XRP token was trying to touch its past all-time high price of $3.84 but a lawsuit of the SEC agency did everything against Ripple.
Currently, trade price of XRP is around $1.