Ripple CEO Brad Garlinghouse told Fortune  Magazine today that he expects the SEC to sue the company soon for selling unlicensed securities. XRP, Ripple’s cryptocurrency, is valued at $23 billion, the third largest cryptocurrency by market cap

Garlinghouse said that he believes the SEC will name him and co-founder Chris Larsen as co-defendants in a lawsuit, which he expects to be brought in the near future.

The price of XRP dropped more than 13% today.

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Source: decrypt