SEC has filed an action against Ripple, arguing that the XRP coin is a “security.”
It was reported that Kyle had approached the CEO about becoming an angel investor.
Ripple’s CEO, Brad Garlinghouse, has publicly denied the claims made by whistleblower Crypto leaks. According to claims, Garlinghouse funded Kyle Roche in order to alter the results of the SEC litigation and to bring mayhem to other crypto companies.
Kyle Roche allegedly started Roche freedman, which has a partnership agreement with Ava Labs. It said they were linked with the Boies Schiller Flexner’s law firm. SEC has filed an action against Ripple, arguing that the XRP coin is a “security.” The latter firm represents Ripple in this case.
Litigation Expert in the Industry
According to the report, Garlinghouse decided to start his own legal business after hearing a recommendation to do so from Kyle. This group would be a litigation experts in the crypto industry. This will be handled in the same fashion as the lawsuit against Ripple and can target other companies.
It was reported that Kyle had approached the CEO of Ripple about becoming an angel investor in the company. Thus, Garlinghouse gave his approval to this arrangement. Furthermore, this occurred despite the fact that Ripple’s CEO had anticipated a decline in such lawsuits.
The CEO of Ripple addressed these claims in a Twitter thread. When asked about the veracity of the report, Garlinghouse claimed he had no idea. He said categorically that he had never spoken to or even seen Kyle Roche before.
Furthermore, the whistleblower said that Ripple’s Garlinghouse purchase and backing of Kyle Roche would not protect the latter from SEC prosecution. The article continued by saying that Emin Gün Sirer should be concerned about the legal action now being taken against the blockchain company.