Ripple’s legal counsel Stuart Alderoty has slammed cryptocurrency media outlet Coindesk for its recent op-ed about the Ripple lawsuit. Coindesk columnist Preston Byrne said in the article that he expects Ripple to lose its case against the SEC “sooner or later.” 

Bryme noted that Alderoty’s argument is akin to denial. Ripple’s general counsel “argue that there was no investment contract during the sale of XRP because there is no formal contract between Ripple and XRP purchasers and that the tokens were sold for consumptive use,” Bryme said. 

Reacting to Coindesk’s recent Op-Ed article, Alderoty urged the media outlet, which he described as detractors, to understand Ripple’s legal positions before debunking them. He noted that it was clearly stated in Ripple’s summary judgment reply brief filed on December 2 that the blockchain company does not rely on the conclusion that XRP was purchased for use.

(By Lele Jima)