According to Cointelegraph, a new class action lawsuit against Ripple filed in May 2018 has made new progress. The core of the lawsuit is that the XRP ICO launched by Ripple in 2013 violated the Securities Law. On March 25, a revised complaint accused Ripple CEO Brad Garlinghouse of quietly lightening up while selling XRP to potential investors. The complaint emphasizes that, although Garlinghouse has always described itself as "strongly bullish" and "on the side of HODL", Garlinghouse actually "sold 67 million XRP in 2017" and "in a few days after receiving Ripple's token Realize it all. " The complaint also pointed out that the 100 billion XRP currently in existence were all created by Ripple when it was founded in 2013 and have no function other than speculation.