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A thread on my thoughts on the potential outcome of this SEC case against @Ripple and the outcome regarding the Escrow, @bgarlinghouse and @chrislarsensf Xrp holdings and why @JoelKatz comes out smiling.
I’m not a lawyer but I have a brain and bored fingers so can surmise.
I’m not a lawyer but I have a brain and bored fingers so can surmise.
If you disagree or don’t like what I’m thinking my Twitter ego should just about survive.
My thesis is simple, one only has to... Look at the recent KiK/KIN case. KIK was accused in a very vicious slanderous way of using a ICO as a Hail Mary cash grab.
So what happened?
My thesis is simple, one only has to... Look at the recent KiK/KIN case. KIK was accused in a very vicious slanderous way of using a ICO as a Hail Mary cash grab.
So what happened?
- KIK lost and was fined ($5M)
- KIN can continue to be bought and as a currency exempt from security status (Kin price is pumping and new exchanges are logically imminent for this healthy ecosystem)
- KIKs 3 Trillion (yup 3T) Kin can’t be sold without SEC approval
- KIN can continue to be bought and as a currency exempt from security status (Kin price is pumping and new exchanges are logically imminent for this healthy ecosystem)
- KIKs 3 Trillion (yup 3T) Kin can’t be sold without SEC approval
So simply I see this happening.
- XRP in circulation will get a pass.
- XRP in escrow and subsequent sales may fall under SEC ongoing oversight as with KIKs holdings? Or be required to be transferred to the custody or oversight of another party?
- XRP in circulation will get a pass.
- XRP in escrow and subsequent sales may fall under SEC ongoing oversight as with KIKs holdings? Or be required to be transferred to the custody or oversight of another party?
So what of Chris and Brad?
Well they look bad for (allegedly) selling tokens by the hundreds of millions to retail.
I surmise they are personally and brutally named in the suit as their XRP holdings are in the line of fire. (Jed’s too hence the stop in sales on Bitstamp)
Well they look bad for (allegedly) selling tokens by the hundreds of millions to retail.
I surmise they are personally and brutally named in the suit as their XRP holdings are in the line of fire. (Jed’s too hence the stop in sales on Bitstamp)
So we could see these founders holdings or control of the sale of the holdings removed from them.
David’s decision to take Ripple Stock and Salary instead of an excessive XRP stash if the above transpires may turn out to be a good move.
David’s decision to take Ripple Stock and Salary instead of an excessive XRP stash if the above transpires may turn out to be a good move.
At this point I probably verge on questioning the integrity of Brad and Chris so please read this as a clinical assessment of the breadcrumbs we have.
The suit says they declined to settle, I think the settlement involved them losing ownership of their billions of XRP.
The suit says they declined to settle, I think the settlement involved them losing ownership of their billions of XRP.
And probably some other requirements which would have hampered the success of Ripples long term strategy hence justifying the need to take this all the way.
Well that’s that, let’s hope clarity comes sooner than later.
#xrp #sec #escrow #ripple
Well that’s that, let’s hope clarity comes sooner than later.
#xrp #sec #escrow #ripple
