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The battle all $XRP holders were waiting for. I’m sure lots of holders will be debating whether to sell off this news... a few thoughts: https://fortune.com/2020/12/21/ripple-to-be-sued-by-sec-cryptocurrency-xrp/
@Ripple and @bgarlinghouse will have anticipated this decision by @SEC_News for years, in which time they’ve built out an extremely experienced exec team who are poised and ready for this legal battle to commence.
@bgarlinghouse has led a great PR narrative over the last year, pressing hard for reg clarity in the US via media and threatening to up sticks and move @Ripple overseas. Have the SEC played into his plan to force regulatory clarity that may not have otherwise came quick enough?
@Ripple has shareholders who will expect certain growth in certain timeframes. Has Brad dangled the right carrot to get their attention by talking about leaving the US? Will this suit get legal clarity for $XRP quicker than waiting for industry wide clarity?
If I can work that out, I’m sure he can.
This isn’t just a small startup, it’s a global company with extremely reputable board members, partners and investors, who will also add pressure to the SEC’s case. Take @yoshitaka_kitao in Japan for example.
This isn’t just a small startup, it’s a global company with extremely reputable board members, partners and investors, who will also add pressure to the SEC’s case. Take @yoshitaka_kitao in Japan for example.
Ripple have reacted as any experienced firm would:
Straight to the media with an offensive approach, publicly showing the SEC how ready for the fight they are before the filing even happens > facts based doc published stating all the reasons why $XRP is not a security.
Straight to the media with an offensive approach, publicly showing the SEC how ready for the fight they are before the filing even happens > facts based doc published stating all the reasons why $XRP is not a security.
@Ripple have the funds and experience to win this case. As an investor, it’s a clear risk reward question mark that should help you determine whether to sell.
Win = $XRP is likely to start dominating the market based on the value it’s used case brings, in turn price goes way higher.
Lose = $XRP drops hard in short term, @Ripple get fined, but then grow their business outside of the US where regulation already permits.
Lose = $XRP drops hard in short term, @Ripple get fined, but then grow their business outside of the US where regulation already permits.
I can’t help but agree this is a last minute ego fluffing move from @SEC_News Jay Clayton, showing abysmal leadership as he’s half way out the door. I’m sure the next chairman will thank him for leaving this one behind.
