In a recent tweet that was both alarming and stern, Brad Garlinghouse warned the general people not to believe the SEC's purported idea of clarity, disclosure, and transparency.
Ripple and XRP Have the Support of Elon Musk
Ripple's Chief Executive Officer, Brad Garlinghouse, reported in a tweet on the 21st of October that he had posted a tweet from the company's General Counsel, Stuart Alderoty, which disclosed that the SEC had finally handed over the Hinman documents.
Ripple may have won the lawsuit thanks to the information that was disclosed in the tweet. This evidence includes the internal emails of the SEC as well as drafts of former SEC Director Hinman's 2018 address.
The federal authority insisted that Ripple maintain the document's confidentiality for the time being. Ripple has also extended its congratulations to members of the XRP community and others who assisted in the delivery of the documents, which took 18 months and six court orders.
In a tweet, Garlinghouse said, "Don't trust the SEC; they only want you to believe that they actually care about clarity, transparency, and disclosure." Garlinghouse was referring to the Securities and Exchange Commission. The naked truth will emerge in a short amount of time. Their poor attitude will be brought into the open for everybody to see.
After that, Elon Musk reacted by saying, "Yes!!! " While expressing his happiness for the XRP holders and the Ripple community as a whole, Musk lambasted the SEC for the allegations it has made.
At this time, the uptick in the price of Ripple's native token may have been brought on by the positive news (XRP). XRP is currently trading at $0.45, representing a nearly 2.9% increase over the course of the previous 24 hours.
The Commission's Past Relations With Elon Musk
Elon, a billionaire, has a history with the Securities and Exchange Commission (SEC), which includes the federal regulators going after him for his negative tweets. Additionally, the investigation into him regarding his recent acquisition of Twitter is still ongoing.
In 2018, a consent decree that was enforced by the financial regulator required Elon Musk to get approval from his attorney before tweeting any news related to Tesla matters. The actions taken by the SEC were referred to as "government-enforced oppression" by the billionaire and his legal luminaries.
The attorneys argue that the action taken by the SEC violates their clients' rights to free speech. In addition, the SEC has raised concerns about Musk's statements concerning his most recent acquisition of Twitter.