• Ripple has acquired Metaco for $250 million, allowing current CEO Adrien Treccani to remain in charge of operations.
• Ripple is still embroiled in a legal battle with the SEC over XRP’s classification as a security.
• Ripple CEO Brad Garlinghouse believes that a decision may be made regarding XRP within the year.

Ripple Acquires Metaco

Ripple has purchased Metaco, one of crypto’s most well known custodians, for $250 million. Current CEO Adrien Treccani will continue to operate independently and Monica Long, President of Ripple, stated that customers would benefit from this acquisition.

Ripple’s Legal Battle With the SEC

Despite the positive news surrounding its purchase of Metaco, Ripple remains engaged in an ongoing legal battle with the Securities and Exchange Commission (SEC) regarding XRP’s security status. If deemed a security by the SEC this could have far-reaching implications across cryptocurrencies at large. Brad Garlinghouse, CEO of Ripple, believes that a decision may be reached within this year – bringing much needed clarity and steadiness to Ripple’s trajectory.

Monica Long’s Statement on Acquisition

Monica Long expressed her enthusiasm for this acquisition and views it as an opportunity to support customers while embracing “the true potential of crypto and blockchain in real world applications”.

Brad Garlinghouse’s Perspective on Regulatory Clarity

Garlinghouse has acknowledged fighting against the SEC at great financial expense while expressing his belief that regulatory clarity is necessary for stability – something he expects may be achieved within this year if all goes according to plan.

Disclaimer

This article is provided for informational purposes only and should not be used as legal or investment advice.