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Ripple co-founder posts cryptic message and suggests company may leave US

A RippleThe company behind cryptocurrency XRP may be considering ceasing operations in the US, according to the company’s chief technology officer, David Schwartz.

In a controversial tweet with confidential messages, Schwartz made it clear that this was not his choice, but his statement suggests that Ripple is concerned about the ongoing battle with the US Securities and Exchange Commission (SEC).

The SEC filed a lawsuit against Ripple in 2020, accusing the company of selling XRP as an unregistered security for years. The case is now in federal court and whether Ripple decides to settle it or let it go to court will have a long-term impact on the future of cryptocurrency in the United States.

The ripple may leave the US

Schwartz’s latest tweet and the cover photo of his Twitter account further fueled speculation about Ripple shutting down its operations in the US.

The cover photo has the following text: “When a broken financial startup entwines a web of corruption and betrayal to bring instant payments to the masses, they discover the cost of disrupting the status quo is greater than they imagined, forcing them to decide between their vision and their survival”.

CTO Ripple Secret Message

While Schwartz’s statement didn’t reveal anything obvious and was a hypothetical scenario, Yassin Mobarak, founder of Dizer Capital, called Ripple’s CTO’s recent tweet “worrisome.”

Ripple’s decision to shut down its operations in the US is a huge blow to the company and cryptocurrency in general. However, as Schwartz noted, Ripple could continue its operations elsewhere in the world and Congress could change laws to make the environment more favorable for cryptocurrencies in the United States.

The legal battle between Ripple and the SEC continues, and many are eager to see the outcome. The shutdown of Ripple’s US operations would be a significant development, but it remains uncertain whether the company will actually make that decision.

Ripple and other cryptocurrency companies are struggling to position themselves in an uncertain US regulatory environment, and many are waiting for regulatory clarity so they can operate safely and grow their businesses.

Binance CEO Recommends Crypto Projects Leave US

With America attacking cryptocurrencies, Binance CEO believes it’s not the right place for serious projects to thrive. Zhao, who has suggested destinations such as Dubai, Bahrain and France, has shown deep frustration with US regulators.

“If you are serious about your project, moving to a new country is not a bad thing”Binance’s CZ announced. “Most regulators say they welcome people to speak, but I don’t know how much access they actually give people, especially new projects that don’t have any reputation.”

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