Pro-XRP Lawyer Believes There is a ‘Bad News for Ripple’

Attorney Fred Rispoli has responded to a recent news report regarding the certification of an investor class in a cryptocurrency securities lawsuit against Ripple Labs Inc. The lawsuit revolves around virtual token losses suffered by investors.

Despite the company’s opposition to the certification, the class fulfilled the necessary requirements, as stated by Judge Phyllis J. Hamilton of the US District Court for the Northern District of California on June 30. 

This development raises questions about Ripple Labs’ legal strategy and the potential implications of a ruling in this case, especially if it contradicts the regulatory stance in New York. CEO brad garlinghouse brad garlinghouse Brad Garlinghouse is an American businessman and a major crypto influencer. He is the CEO of Ripple Labs, which offers cryptocurrency and blockchain solutions. Brad has also worked at Hightail, AOL, and Yahoo in prominent positions. Ripple Labs has backed several blockchain startups and investors to grow decentralized finance. Brad sees crypto as a tool for financial freedom and has worked with other influencers in this regard. Quick Facts Full Name Bradley Kent Garlinghouse Birth 06-02-1971, in Topeka, Kansas Nationality American Education Bachelor's degree in Economics, MBA from Harvard Business School. Marital Status Married to Kristen Elizabeth Mautner Net Worth $10B (Refer here) Ripple's native token, XRP is among the top digital assets. As per CoinGape, Brad's company has $100 billion worth of XRP tokens in its reserve. This will help further innovation in Web3 and blockchain projects. As per reports surfing on Binance’s blog, Brad Garlinghouse may step down as CEO of Ripple to join the Crypto Advisory Council, which is led by President Trump. This significant event will boost the adoption of decentralized finance and blockchain growth. Brad Garlinghouse: Trivia 2007: Served as Senior VP at Yahoo!, heading communications and consumer products. 2012: Became CEO of Hightail, leading digital file-sharing innovations. 2015: Joined Ripple as COO to push blockchain adoption in cross-border payments. 2017: Became CEO of Ripple, driving XRP adoption and blockchain partnerships. 2020: Led Ripple’s defense against the SEC lawsuit over XRP’s security status. 2021: Expanded Ripple’s ODL (On-Demand Liquidity) network for global crypto payments. 2023: Got a partial success against the SEC, declaring XRP as not a security. 2024: Continue leading Ripple in CBDC collaborations and global blockchain finance. 2025: May join Trump's Crypto Advisory Council to set regulations. Notable Works & Achievements by Brad Garlinghouse Year Achievements Details 2003 Wrote the 'Peanut Butter Manifesto' at Yahoo! Highlighted Yahoo!'s lack of focus in operations. 2015 Joined Ripple as Chief Operating Officer Took measures to integrate blockchain technology into banking systems. 2017 Appointed CEO of Ripple Expanded Ripple's global partnerships, enhancing cross-border payment solutions. 2020 Named in Forbes' List of Wealthiest in Cryptocurrency Recognized for significant contributions to the crypto industry. 2023 Legal Victory in SEC vs. Ripple Case Achieved a favorable ruling impacting cryptocurrency regulations. Other Useful Links To Connect with Brad Garlinghouse Platform  Link X (formerly Twitter) https://twitter.com/bgarlinghouse LinkedIn https://www.linkedin.com/in/bradgarlinghouse Ripple’s Website https://ripple.com/leadership/brad-garlinghouse/ EntrepreneurInvestorChief Executive OfficerBoard Member contested the certification.

However, their challenge was ultimately unsuccessful. The court’s decision to grant certification presents a significant hurdle for Ripple Labs, as it now faces a collective legal action from a certified class of investors.

The attorney said that he has not had access to the specific court order. However, Rispoli suggests that the certification of a class action is generally unfavorable for a company. He acknowledges that Ripple Labs has been engaging in a legal battle with the Securities and Exchange Commission (SEC), and he implies that the same legal strategy might apply to this case. Rispoli notes that the next step in the lawsuit would be a summary judgment, which indicates that the case may progress at a slower pace compared to the ongoing SEC case.

“The next step is summary judgment, so it is “behind” the pace of the SEC case. On a more important level, I need to do more research on what happens if XRP ruled not a security in New York but is a security in this Oakland case.”

He questions the scenario where XRP is ruled not to be a security in New York but is considered a security in the ongoing Oakland case. Rispoli seeks to understand the consequences and the impact this may have on Ripple Labs’ legal position and the overall regulatory turmoil surrounding XRP.