Ripple's Lawyer Reveals The Story Behind Court Docs Proving The SEC Is Wrong About

On Monday, the Securities and Exchange Commission announced that it had settled charges against crypto startup Ripple for fraudulent and unfair practices. The agency said it found no evidence to support claims that the company misled investors about its technology.

But if you look at the actual complaint filed by the SEC against Ripple, you will find some interesting details that contradict what they have said publicly. For example, in the original document, they say that Ripple has a habit of making false or misleading claims about its business model and technology, but there's nothing in it to do anything other than what they describe as normal business operations.

Ripple CEO Brad Garlinghouse told me Monday night that he believes his company has been unfairly targeted by regulators, especially because it hasn't had much revenue yet. He also said that he doesn't think it's unusual for companies to make false claims; it happens all too often among startups trying to get started.