Ripple CEO Claims XRP Ledger Exists Before Company, Seeking Commodity Classification

Ripple CEO Brad Garlinghouse has taken a firm stance on the legal distinction between his company and its native cryptocurrency, XRP. In a bid to clarify the relationship between Ripple and the XRP Ledger (XRPL), he emphasized that the XRP Ledger existed before Ripple’s establishment, arguing that this signifies XRP should be classified as a commodity rather than a security under current US law. This claim has been highlighted by crypto commentator Xaif who shared Garlinghouse’s statement on X with an accompanying image.