Crypto Market Will See a Bloodbath if Ripple Loses to SEC, Gasparino Says
Fox Business host Charles Gasparino paints a dark future scenario for the broader crypto market and shared his view on what consequences the industry could face if the SEC wins against Ripple. Gasparino wrote via Twitter:
Ripple General Counsel and CEO Want Congress to Oversee the SEC
Stuart Alderoty, General Counsel at Ripple, recently highlighted the part played by the U.S. SEC in the recent crypto contagion triggered by the FTX implosion. According to him, Congress should examine the financial regulator’s policies that might have contributed to the contagion. Alderoty believes some of these policies were beyond the SEC’s jurisdiction.
Charlie Gasparino Warns There Will Be a Crypto Bloodbath if SEC Wins Against Ripple
On Tuesday (10 January 2023), Fox Business Senior Correspondent Charlie Gasparino warned that if the U.S. Securities and Exchange Commission (“SEC”) wins its ongoing lawsuit against Ripple, the crypto community would see a bloodbath.
Attorney States What Would Happen to XRP if SEC Wins the Lawsuit Against Ripple
Attorney Jeremy Hogan, a partner at Hogan & Hogan law firm, implied that things may not go down well for XRP holders in a scenario where the Gary Gensler-led SEC wins the case. Notably, he estimated that XRP would lose 25% of its current utility if it is, perhaps, declared a security by Judge Analisa Torres as the case proceeds.
Utility Tokens as Securities — Analyzing the LBRY Decision
Whether utility tokens are considered “securities” under the Securities Act is a layered question that is undoubtedly project-specific.
SEC Also Investigating Mango Exploiter Eisenberg: CFTC Commissioner
The U.S. Securities and Exchange Commission is also investigating self-confessed Mango Markets exploiter Avraham Eisenberg over his role in extracting $110 million from the decentralized protocol.
Ripple Moves 50M XRP as Rally Faces Resistance at $0.35
Ripple recently moved 50M XRP ($17.4M) amid the hurdle faced by the asset in its latest campaign to recapture the $0.35 price point. The 50M tokens moved by Ripple are part of 122M+ XRP recently shuffled by whales as the community witnesses significant updates on the legal battle between Ripple and the U.S. SEC.
SEC Opposes Ripple Request to Seal Certain Documents Related to Summary Judgment Motions
The SEC stated that Ripple’s sealing requests should be narrowed to overcome the presumption of public access to information.
Will Hinman Documents Become Public Soon? As Ripple Opposed SEC Motion to Keep Them Sealed
Hogan & Hogan partner Attorney Jeremy Hogan has asserted that the XRP community will soon find out the court’s decision on the controversial Hinman documents. The pro-XRP attorney following the US Securities and Exchange Commission case against Ripple said this in a tweet today responding to Ripple’s reply to the SEC’s omnibus motions. Unsurprisingly, Ripple has asked Judge Analisa Torres to deny the SEC’s motion to seal the Hinman documents. (thecryptobasic)
Deaton Says SEC Lawyers Are 100% Transactional In Their Arguments
Attorney Deaton criticized the SEC, saying the agency’s lawyers are 100% transactional.
