Ripple Opens New Global Headquarters in San Francisco Amid SEC Legal Battle

According to CryptoPotato, Ripple has opened its new global headquarters in San Francisco, signaling its commitment to remain in the US despite its ongoing legal battle with the Securities and Exchange Commission (SEC). The blockchain company has been in the news frequently due to its numerous developments and winning court streak against the SEC. The new headquarters is located in a building that was built in 1927 and recently underwent a significant makeover. In 2019, the property was acquired by Invesco Real Estate and TMG Partners for $125 million. Ripple's decision to move to new global headquarters comes approximately four months before its grand trial with the US SEC. The legal battle began in December 2020 when the regulator sued the blockchain company for allegedly selling more than $1.3 billion worth of XRP as unregistered securities. The conflict escalated in the following years, with a peak occurring in mid-July 2023 when US Federal Judge Analisa Torres ruled that Ripple's XRP sales from years ago did not constitute an offer of investment contracts. The magistrates later dismissed the SEC's wish to appeal the decision and cleared CEO Brad Garlinghouse and Executive Chairman Chris Larsen of all charges brought by the watchdog. The trial in April next year is expected to determine the outcome of the lengthy conflict. A decisive Ripple victory could positively impact the entire cryptocurrency sector, while an opposite ruling could have a negative effect.