Did ripple sell XRP?

In December 2020, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs, the company behind the XRP token ( XRP-USD ), alleging that Ripple and its current and former chief executives had been conducting a $1.3 billion, unregistered securities offering by selling XRP, which Ripple's founders created in 2012.

What happened to XRP (XRP-USD)?

In December 2020, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs, the company behind the XRP token ( XRP-USD ), alleging that Ripple and its current and former chief executives had been conducting a $1.3 billion, unregistered securities offering by selling XRP, which Ripple’s founders created in 2012.

Why did XRP get sued by the SEC?

Ripple's founders created XRP in 2012. The SEC sued the San Francisco-based company and its current and former chief executives in December 2020, alleging they have been conducting a $1.3 billion unregistered securities offering since the token's creation.

Is XRP a security?

On 18 April, SEC Chair Gary Gensler refused to say whether or not XRP was a security. On 20 March, lawyer John Deaton said he expected controversial comments by former SEC director Bill Hinman, seemingly suggesting that cryptocurrencies were not securities, would be made public because they also had an impact on other legal cases.