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- 1 One of the crucial lawsuits in the crypto space, SEC vs Ripple, concluded with the decision “XRP is not a security.”
- 2 The lawsuit had lots of eyeballs on it, given the heat it accumulated in the past years since filing in the court.
As the Ripple vs SEC lawsuit has always been a hot topic of discussion within the cryptocurrency space, as it is today. The case started with the United States Securities and Exchange Commission charging payment protocol Ripple Labs in December 2020. It reached its conclusion with the court ruling XRP is not a security. The XRP community and Crypto Twitter actively praised the turning point of the episode.
Ripple Executives Reacts to the Court’s Ruling
The chief executive officer at Ripple Labs, Brad Garlinghouse, took to Twitter following the decision from US District Court for the Southern District of New York Judge, Analisa Torres, and iterated to be “on the right side of the history.” He cited the decision as crucial for innovation in the crypto space.
Ripple co-founder and executive chairman, Chris Larsen, “haven’t been as vocal on the lawsuit” as other company executives were, but words came from him on what he said was a “huge win for crypto” in the United States.
XRP Community Proactive Members
Pro-XRP community lawyer and founder of Crypto Law US, John Deaton’s Twitter feed had so many tweets and responses in the contingency of the lawsuit’s decision. His initial statements were about teasing the opponents—Gary Gensler, SEC Enforcement Director, Jay Clayton & Bill Hinman, etc. stating “YOU LOSE.”
Crypto analysts going by the name Crypto Eri over the social media platform congratulated and showed gratitude for their participation. She thanked all the attorneys for supporting XRP Army and Ripple. Also, she cheered on the XRP price going bullish and started surging within no time following the court decision.
Ripple chief technology officer, David Schwarts went on to “declare July 13th victory day.”
Support to Ripple From Prominent Crypto Figures
There are several other entities that are facing legal tussles with the SEC and celebrated a decision in favor of Ripple in its lawsuit. The co-founder of crypto exchange Gemini, Tyler Winklevoss, called out the US financial regulator for losing.
Leading US crypto exchange, Coinbase, which is also facing charges of selling unregistered securities bought by the SEC, has added support to Ripple’s win. Coinbase chief legal officer, Paul Grewal, noted the re-listing of XRP on the crypto exchange platform following the decision concluding it’s “not a security.”
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
