In the grand spectacle of the financial world, the SEC, after four long and tiresome years, has at last thrown in the towel against Ripple Labs. 🥱
Back in the winter of 2020, the SEC, with a gleam in its eye, accused Ripple of peddling XRP as an unregistered security. A true soap opera of the digital age!
Brad Garlinghouse, the maestro of Ripple, confirmed the victory in a flash, calling it a “long-overdue surrender” by the SEC. “It’s over, the case was as flawed as a three-legged chair from the get-go.” 🛋️
In the midst of this legal tango, XRP holders danced to the tune of massive losses, about $15 billion worth of tissues for their tears. But Ripple stood tall, declaring from the start that XRP was as much a security as a banana is a spaceship. 🚀🍌
In 2023, a judge with a keen eye ruled that XRP sales were as illegal as a Sunday picnic. A major slap in the face for the SEC’s grandstanding. “We won on every critical legal point,” Garlinghouse crowed. “That is now the law, folks.” 🐔
This decision comes as the SEC, under Acting Chairman Mark Uyeda, is doing a little dance, dropping cases left and right like hot potatoes. Including Coinbase, Uniswap Labs, and Kraken. Some say the SEC was pondering if XRP should be a commodity, like Ethereum. You know, because consistency is overrated. 🥔
Garlinghouse believes the SEC was never really the knight in shining armor for investors. “They were out to intimidate and terrorize,” he declared. “Now, let’s all hold hands and demand clearer rules, shall we?” 🤝
“We are closing a chapter in crypto history. I think we’re all stronger for it,” he added with a wink. He also noted more political leaders are jumping on the crypto bandwagon, which could lead to better regulations. Or more chaos. Time will tell. ⏳
As the news spread, XRP’s price did the moonwalk, jumping over 14%, from $2.30 to $2.56. The trading volume? Up by 73% to $6.1 billion. Party time! 🎉
Garlinghouse gave a hearty thank you to the Ripple team, their lawyers, and the XRP community for their unwavering support. “We couldn’t have won this battle without all of you,” he said, probably with a tear in his eye. 🥺
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2025-03-19 17:41