Topic: SEC vs Ripple continuation of the story (Read 707 times)
Ripple Chief Legal Officer Stuart Alderoty recently said that the court's ruling that "XRP is not a security" has not been appealed by the SEC. Ripple plans to file its own Form C next week as a cross-appeal against the institutional sales ruling that it is a security.
I'll stock up on popcorn.
Same here too, however, i am disappointed that the sec have decided to appeal the initial ruling, i think they are spending unnecessary funds in this litigation process, and it is likely to eventually end in another defeat for the sec. I think they should have simply conceded defeat and taken the $125 million dollar fine.(3) Coincidence that the SEC’s Enforcement Director announced his resignation about an hour before this?"
It could be coincidence, or maybe he is tired of the secs unfounded harassment of crypto firms and projects, we'll never know what the real reason for his resignation is.I don't really understand who's spending the funds?
The SEC has a budget and all SEC lawyers get paid, but Ripple's spending on lawyers is huge. And traditionally, Ripple won't pay those expenses back by court order.
I'll stock up on popcorn.
Same here too, however, i am disappointed that the sec have decided to appeal the initial ruling, i think they are spending unnecessary funds in this litigation process, and it is likely to eventually end in another defeat for the sec. I think they should have simply conceded defeat and taken the $125 million dollar fine.(3) Coincidence that the SEC’s Enforcement Director announced his resignation about an hour before this?"
It could be coincidence, or maybe he is tired of the secs unfounded harassment of crypto firms and projects, we'll never know what the real reason for his resignation is.
https://x.com/s_alderoty/status/1841596012588114116
"(1) The SEC's decision to appeal is disappointing, but not surprising. This just prolongs what's already a complete embarrassment for the agency. The Court already rejected the SEC’s suggestion that Ripple acted recklessly, and there were no allegations of fraud and, of course, there were no victims or losses.
(2) Instead of faithfully applying the law, this agency, under this Chair, continues to engage in litigation warfare against the industry. We are evaluating whether to file a cross appeal. Either way, the SEC's lawsuit has been irrational and misguided from the start, and we're ready to prove that yet again in the appellate court (once again taking the lead for the industry)
(3) Coincidence that the SEC’s Enforcement Director announced his resignation about an hour before this?"
___
I'll stock up on popcorn.
"(1) The SEC's decision to appeal is disappointing, but not surprising. This just prolongs what's already a complete embarrassment for the agency. The Court already rejected the SEC’s suggestion that Ripple acted recklessly, and there were no allegations of fraud and, of course, there were no victims or losses.
(2) Instead of faithfully applying the law, this agency, under this Chair, continues to engage in litigation warfare against the industry. We are evaluating whether to file a cross appeal. Either way, the SEC's lawsuit has been irrational and misguided from the start, and we're ready to prove that yet again in the appellate court (once again taking the lead for the industry)
(3) Coincidence that the SEC’s Enforcement Director announced his resignation about an hour before this?"
___
I'll stock up on popcorn.
The battle continues..
Yeah it does and i believe a lot of us knew the sec was going to appeal the initial verdict, however, i thought that part of the initial verdict was that the sec cannot appeal nor contest the ruling that ripple is not a security or did i get that point wrongly.In another related news, ripple is also considering a cross-appeal to challenge the $125 million fine that was imposed on them in judge Analisa Torres' ruling in August. So the legal battle between the sec and ripple is very far from over at this point.
https://coinpedia.org/news/unraveling-allegations-of-ripples-xrp-price-surge-using-bot-manipulation-claims/
Ripple Hit with Bot Manipulation Claims, But XRP Price Unfazed
"Ripple faces new accusations of using bots to manipulate XRP prices in 2015 and 2016, according to court documents.
Despite the lawsuit and bot allegations, XRP's price continues to rise, reaching $0.58 and potentially aiming for $0.64.
Technical indicators suggest continued growth for XRP, but experts advise caution."
____
I'm not interested in Ripple, but I still think that the SEC will not give up trying to persecute Ripple
Ripple Hit with Bot Manipulation Claims, But XRP Price Unfazed
"Ripple faces new accusations of using bots to manipulate XRP prices in 2015 and 2016, according to court documents.
Despite the lawsuit and bot allegations, XRP's price continues to rise, reaching $0.58 and potentially aiming for $0.64.
Technical indicators suggest continued growth for XRP, but experts advise caution."
____
I'm not interested in Ripple, but I still think that the SEC will not give up trying to persecute Ripple
SEC is probably looking to extort Ripple labs for a few billion dollars. It's hilarious to see such an alligation to be honest. I am not sure if there's a way to prove their bot usage back in 2015-16. But I am sure SEC will eventually succeed in this case and fill the coffers of US government by a few billion dollars.
US is becoming a horror ground for altcoins businesses. I wonder why these companies are moving out permanently? This kind of attacks from government bodies should be enough as a reason to move out somewhere safer like Dubai or Singapore.
https://www.theblock.co/post/319246/sec-appeals-ripple-case-ruling-citing-conflict-with-supreme-court-precedent
"SEC appeals Ripple case ruling, citing conflict with Supreme Court precedent
The Securities and Exchange Commission is appealing a previous judgment regarding the web3 payments firm Ripple.
“We believe that the district court decision in the Ripple matter conflicts with decades of Supreme Court precedent and securities law,” an SEC spokesperson said. "
https://x.com/bgarlinghouse/status/1841597085264839113?s=46&t=0uHDZtRrE5PWiHA9DcmPMA
Brad Garlinghouse:
"If Gensler and the SEC were rational, they would have moved on from this case long ago. It certainly hasn’t protected investors and instead has damaged the credibility and reputation of the SEC.
Somehow, they still haven't gotten the message: they lost on everything that matters. Ripple, the crypto industry, and the rule of law have already prevailed.
While we'll fight in court for as long as we need, let's be clear: XRP’s status as a non-security is the law of the land today - and that does not change even in the face of this misguided - and infuriating - appeal.
(Remember, when the SEC tried unsuccessfully to file an “interlocutory appeal” they made clear they had no intention of challenging XRP’s status as a non-security.)"
___
The battle continues..
SEC is doing such extortion under the leadership of Gary. After November election outcome I am sure Gary will resign. In that scenario such kind of extortion, which I have been writing will go down.
Isn't that if Donald Trump wins the election, Trump said in a BTC conference few weeks ago that he would fire Gary Gensler if he becomes president, i am not so sure if he can fire him, but he will have the power and the influence as the president to make him lose his job. However, what of Kamala, do you think she will work with Gensler as the chairman of the sec or will she push for his removal and a replacement of her own choice if she is president. 
US is becoming a horror ground for altcoins businesses. I wonder why these companies are moving out permanently? This kind of attacks from government bodies should be enough as a reason to move out somewhere safer like Dubai or Singapore.
The ultimate goal is not necessarily financial, especially since we are talking about federal agencies, but it may be to create more pressure to increase compliance with these companies with regulations, as they can intervene in the industry and force companies to add block lists and blacklists. 
SEC is probably looking to extort Ripple labs for a few billion dollars. It's hilarious to see such an alligation to be honest. I am not sure if there's a way to prove their bot usage back in 2015-16. But I am sure SEC will eventually succeed in this case and fill the coffers of US government by a few billion dollars.
US is becoming a horror ground for altcoins businesses. I wonder why these companies are moving out permanently? This kind of attacks from government bodies should be enough as a reason to move out somewhere safer like Dubai or Singapore.
SEC is doing such extortion under the leadership of Gary. After November election outcome I am sure Gary will resign. In that scenario such kind of extortion, which I have been writing will go down. Do remember the US has the biggest pool of talents globally, the so call countries that you have quoted cannot come up organically with those talents. In the end the US will still be the destination for new talenti and the Universities which are churning or creating new innovators.
https://coinpedia.org/news/unraveling-allegations-of-ripples-xrp-price-surge-using-bot-manipulation-claims/
Ripple Hit with Bot Manipulation Claims, But XRP Price Unfazed
"Ripple faces new accusations of using bots to manipulate XRP prices in 2015 and 2016, according to court documents.
Despite the lawsuit and bot allegations, XRP's price continues to rise, reaching $0.58 and potentially aiming for $0.64.
Technical indicators suggest continued growth for XRP, but experts advise caution."
____
I'm not interested in Ripple, but I still think that the SEC will not give up trying to persecute Ripple
Ripple Hit with Bot Manipulation Claims, But XRP Price Unfazed
"Ripple faces new accusations of using bots to manipulate XRP prices in 2015 and 2016, according to court documents.
Despite the lawsuit and bot allegations, XRP's price continues to rise, reaching $0.58 and potentially aiming for $0.64.
Technical indicators suggest continued growth for XRP, but experts advise caution."
____
I'm not interested in Ripple, but I still think that the SEC will not give up trying to persecute Ripple
SEC is probably looking to extort Ripple labs for a few billion dollars. It's hilarious to see such an alligation to be honest. I am not sure if there's a way to prove their bot usage back in 2015-16. But I am sure SEC will eventually succeed in this case and fill the coffers of US government by a few billion dollars.
US is becoming a horror ground for altcoins businesses. I wonder why these companies are moving out permanently? This kind of attacks from government bodies should be enough as a reason to move out somewhere safer like Dubai or Singapore.
https://cointelegraph.com/news/bitwise-files-xrp-etf
Bitwise files XRP ETF trust registration in Delaware
"An application for a Bitwise XRP exchange-traded fund (ETF) has appeared on the State of Delaware’s Division of Corporations website. According to the filing, the Bitwise XRP ETF was incorporated on Sept. 30, 2024. The registered agent was listed as CSC Delaware Trust Company, which is headquartered in Wilmington, Delaware.
A Bitwise spokesperson confirmed to Cointelegraph that the asset manager had registered the fund trust entity.
The Delaware registration is a first step and does not necessarily mean an application with the United States Securities and Exchange Commission (SEC) is imminent. A formal SEC filing could take months.
According to the filing, the Bitwise XRP ETF trust was registered on Sept. 30. The registered agent was listed as CSC Delaware Trust Company, headquartered in Wilmington, Delaware."
Bitwise files XRP ETF trust registration in Delaware
"An application for a Bitwise XRP exchange-traded fund (ETF) has appeared on the State of Delaware’s Division of Corporations website. According to the filing, the Bitwise XRP ETF was incorporated on Sept. 30, 2024. The registered agent was listed as CSC Delaware Trust Company, which is headquartered in Wilmington, Delaware.
A Bitwise spokesperson confirmed to Cointelegraph that the asset manager had registered the fund trust entity.
The Delaware registration is a first step and does not necessarily mean an application with the United States Securities and Exchange Commission (SEC) is imminent. A formal SEC filing could take months.
According to the filing, the Bitwise XRP ETF trust was registered on Sept. 30. The registered agent was listed as CSC Delaware Trust Company, headquartered in Wilmington, Delaware."
Interesting to see where this will lead, however, there is lots of time to pass without any updates on it, as it was said.
https://cointelegraph.com/news/bitwise-files-xrp-etf
Bitwise files XRP ETF trust registration in Delaware
"An application for a Bitwise XRP exchange-traded fund (ETF) has appeared on the State of Delaware’s Division of Corporations website. According to the filing, the Bitwise XRP ETF was incorporated on Sept. 30, 2024. The registered agent was listed as CSC Delaware Trust Company, which is headquartered in Wilmington, Delaware.
A Bitwise spokesperson confirmed to Cointelegraph that the asset manager had registered the fund trust entity.
The Delaware registration is a first step and does not necessarily mean an application with the United States Securities and Exchange Commission (SEC) is imminent. A formal SEC filing could take months.
According to the filing, the Bitwise XRP ETF trust was registered on Sept. 30. The registered agent was listed as CSC Delaware Trust Company, headquartered in Wilmington, Delaware."
Bitwise files XRP ETF trust registration in Delaware
"An application for a Bitwise XRP exchange-traded fund (ETF) has appeared on the State of Delaware’s Division of Corporations website. According to the filing, the Bitwise XRP ETF was incorporated on Sept. 30, 2024. The registered agent was listed as CSC Delaware Trust Company, which is headquartered in Wilmington, Delaware.
A Bitwise spokesperson confirmed to Cointelegraph that the asset manager had registered the fund trust entity.
The Delaware registration is a first step and does not necessarily mean an application with the United States Securities and Exchange Commission (SEC) is imminent. A formal SEC filing could take months.
According to the filing, the Bitwise XRP ETF trust was registered on Sept. 30. The registered agent was listed as CSC Delaware Trust Company, headquartered in Wilmington, Delaware."
https://x.com/EleanorTerrett/status/1839439721149116453
" A former @SECGov lawyer who recently left the agency tells me the SEC will ‘probably’ appeal Judge Torres’s July 2023 ruling concerning the $XRP programmatic sales in the
@Ripple
case partly because: “everyone over there [at the SEC] truly believes that the decision is wrong, that it’s not good law, and should be appealed.”
Going to do a deeper dive into the SEC’s options and what we could see as we near the October 7th appeal deadline."
" A former @SECGov lawyer who recently left the agency tells me the SEC will ‘probably’ appeal Judge Torres’s July 2023 ruling concerning the $XRP programmatic sales in the
@Ripple
case partly because: “everyone over there [at the SEC] truly believes that the decision is wrong, that it’s not good law, and should be appealed.”
Going to do a deeper dive into the SEC’s options and what we could see as we near the October 7th appeal deadline."
https://www.courtlistener.com/docket/19857399/securities-and-exchange-commission-v-ripple-labs-inc/?order_by=desc#entry-974
https://forklog.com/news/sud-snizil-razmer-shtrafa-ripple-s-2-mlrd-do-150-mln
"The court fined Ripple $125 million as part of a multi-year legal battle with the U.S. Securities and Exchange Commission (SEC). The regulator initially demanded $2 billion."
https://x.com/bgarlinghouse/status/1821289051191963861?
"The SEC asked for $2B, and the Court reduced their demand by ~94% recognizing that they had overplayed their hand. We respect the Court’s decision and have clarity to continue growing our company.
This is a victory for Ripple, the industry and the rule of law. The SEC’s headwinds against the whole of the XRP community are gone."
___
As I wrote in a previous post Ripple knows how to protect its interests and give SEC a good slap in the face.
https://forklog.com/news/sud-snizil-razmer-shtrafa-ripple-s-2-mlrd-do-150-mln
"The court fined Ripple $125 million as part of a multi-year legal battle with the U.S. Securities and Exchange Commission (SEC). The regulator initially demanded $2 billion."
https://x.com/bgarlinghouse/status/1821289051191963861?
"The SEC asked for $2B, and the Court reduced their demand by ~94% recognizing that they had overplayed their hand. We respect the Court’s decision and have clarity to continue growing our company.
This is a victory for Ripple, the industry and the rule of law. The SEC’s headwinds against the whole of the XRP community are gone."
___
As I wrote in a previous post Ripple knows how to protect its interests and give SEC a good slap in the face.
Everything about ripple stinks. It is a shame ripple is still even a "thing".
Ripple vs SEC?
SEC all the way
Ripple isn't crypto. Ripple is a centralized premined excel sheet which shouldn't have any value. It is probably the biggest ponzi scheme we have ever seen.
I agree with you that Ripple is not a cryptocurrency, but it is Ripple that has taken the biggest fight with SEC, which looks comical.Ripple vs SEC?
SEC all the way
Ripple isn't crypto. Ripple is a centralized premined excel sheet which shouldn't have any value. It is probably the biggest ponzi scheme we have ever seen.
And Brad Garlichouse's efforts in court against SEC have created a lot of important precedents for the crypto industry.
__
I'm not interested in Ripple, but I still think that the SEC will not give up trying to persecute Ripple
I very much agree especially after the embarrassing loss of the SEC and uncle Gary against Ripple and Brad Garlichouse. Uncle Gary will throw everything including the kitchen sink on them while he is in his position. However, this will be a long case and this might continue more than 5 years, longer than the time uncle Gary's time in the SEC which will end on 2026.
I'm not interested in Ripple, but I still think that the SEC will not give up trying to persecute Ripple
I very much agree especially after the embarrassing loss of the SEC and uncle Gary against Ripple and Brad Garlichouse. Uncle Gary will throw everything including the kitchen sink on them while he is in his position. However, this will be a long case and this might continue more than 5 years, longer than the time uncle Gary's time in the SEC which will end on 2026.
Everything about ripple stinks. It is a shame ripple is still even a "thing".
Ripple vs SEC?
SEC all the way
Ripple isn't crypto. Ripple is a centralized premined excel sheet which shouldn't have any value. It is probably the biggest ponzi scheme we have ever seen.
Ripple vs SEC?
SEC all the way
Ripple isn't crypto. Ripple is a centralized premined excel sheet which shouldn't have any value. It is probably the biggest ponzi scheme we have ever seen.
https://x.com/bgarlinghouse/status/1818291451136246236
"More evidence of SEC hypocrisy.
Chair Gensler testifies the rules are clear, yet his SEC can't figure them out and applies them haphazardly, festering more industry confusion.
A political agenda and/or bad faith litigation tactics. Def not a “faithful allegiance to the law"."
"More evidence of SEC hypocrisy.
Chair Gensler testifies the rules are clear, yet his SEC can't figure them out and applies them haphazardly, festering more industry confusion.
A political agenda and/or bad faith litigation tactics. Def not a “faithful allegiance to the law"."
https://www.theblock.co/post/306488/xrp-price-activity-rise-as-ripples-ceo-says-he-expects-legal-resolution-very-soon""
XRP price, activity rise as Ripple's CEO says he expects legal resolution 'very soon'
"Ripple’s CEO Brad Garlinghouse expects the company to settle its years-long litigation with the SEC ‘very soon’, according to a recent Bloomberg interview.
XRP’s price has increased in recent weeks on speculation of an incoming settlement announcement, possibly following a closed-door SEC meeting next week.
The XRP ledger has also seen its highest activity levels and new address creation since March, according to analytics firm Santiment. "
XRP price, activity rise as Ripple's CEO says he expects legal resolution 'very soon'
"Ripple’s CEO Brad Garlinghouse expects the company to settle its years-long litigation with the SEC ‘very soon’, according to a recent Bloomberg interview.
XRP’s price has increased in recent weeks on speculation of an incoming settlement announcement, possibly following a closed-door SEC meeting next week.
The XRP ledger has also seen its highest activity levels and new address creation since March, according to analytics firm Santiment. "
https://www.coindesk.com/policy/2024/04/23/ripple-says-10m-penalty-enough-rejects-secs-ask-of-195b-fine-in-final-judgment/
Ripple Says $10M Penalty Enough, Rejects SEC’s Ask of $1.95B Fine in Final Judgment
"The court had found Ripple violated federal securities laws by making institutional sales of XRP but dismissed other allegations brought by the SEC.
Ripple Labs has opposed the SEC’s proposal seeking a nearly $2 billion fine against the company.
Ripple Labs said the Court should impose a civil penalty of no more than $10 million."
Ripple Says $10M Penalty Enough, Rejects SEC’s Ask of $1.95B Fine in Final Judgment
"The court had found Ripple violated federal securities laws by making institutional sales of XRP but dismissed other allegations brought by the SEC.
Ripple Labs has opposed the SEC’s proposal seeking a nearly $2 billion fine against the company.
Ripple Labs said the Court should impose a civil penalty of no more than $10 million."
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