Situation that borders on the farcical, has now upset the judges making a decision on this subject. Even more good news for Ripple comes from some major wallets.
That day was bound to come sooner or later, and today we finally announce the completion of Jed McCaleb’s Ripple portfolio, a portfolio that has lost a huge amount of XRP in a few years and has finally reached the end of its life. All that’s left in the briefcase is a few pennies, which permanently eliminates, the slight selling pressure that has accompanied Ripple since its introduction.
And this is just the first of the good news related to Ripple. We have already said enough about the current litigation recently, however, especially for those who consider Ripple as a useful project, it will be useful to make a brief review.
Sarah Netburn judge spoke very sharply about the SEC and its behavior last week, and included in her remarks several aspects that should be discussed, at least at higher levels of the American hierarchy. And not least in order to try to curb the hypertrophy of the SEC, which has no power over cryptocurrencies as such, and tends to swing the cudgel of declaring X or Y a financial security to declare itself the king of this jungle.
Hypocrisy, on the one hand, considering Hinman’s speech (the prosecutor) does not affect the understanding of how and why the SEC wants to regulate cryptocurrencies, and on the other hand, insisting that Hinman received legal advice from the SEC itself to prepare his speech. This tells us that the SEC is using a judicial tool to move towards a solution that it itself wants – the management of the world of cryptocurrencies, and not about faithful obedience to the law.
A very harsh statement that was made after what we consider to be the expressionless behavior of the SEC, in particular, in connection with a speech delivered by the then director of the most influential agency in the world, at least in relation to financial markets. The duplicitous position, which is now obvious to the chief judge in the case, and which, as always happens when everyone understands that the king is naked, will radically change the fate of a protracted and too expensive trial.
Ripple has already spent 100 million on fees. However…
The company continues to conclude major deals with the best players in the banking world. A few days ago, another deal was concluded in the Middle East, and, with the exception of the United States, the group continues to expand its presence.
This is a sign that, at least financially, and in terms of adoption, Ripple still has something to say. And this is despite the fact that it is especially disliked by crypto enthusiasts working on other protocols, not least because of a very aggressive strategy against Bitcoin mainly and, as part of the lawsuit, also against Ethereum.
There is enough space for everyone, and wishing the crypto space more moderate and calm discussions, we expect an early termination of the lawsuit, which did not bring anything good to Ripple, did not bring anything good to the industry and probably did not bring anything good to the authority of the SEC.