As I sat, sipping my tea and pondering the intricacies of the crypto world, I stumbled upon a most thrilling tale of triumph and tribulation. Ripple CEO Brad Garlinghouse, that dashing gentleman, recently regaled the U.S. Senate Banking Committee with the story of his company’s arduous journey through the courts.
It appears that Ripple, that plucky upstart, had the dubious honor of being the first major U.S. crypto company to be sued by the SEC back in 2020. But fear not, dear reader, for after four long years of legal wrangling, Ripple has emerged victorious! 🎉 The court, in its infinite wisdom, has ruled in their favor, declaring that XRP is not, in and of itself, a security. Ah, the sweet taste of victory! 🍰
But, alas, Garlinghouse’s joy was tempered by his frustration with the unclear crypto rules in the U.S. “A veritable quagmire of confusion,” he exclaimed, “driving innovation, jobs, and investment overseas, while leaving consumers to navigate a minefield of uncertainty.” Ah, the humanity! 🤷♂️
And now, as we await the final curtain call on this drama, former SEC lawyer Marc Fagel has taken to social media to offer his expertise. When asked about the timeline for the remaining formalities, Fagel opined that it usually takes about 1-2 months for the SEC to schedule a vote to officially dismiss an appeal. But, dear reader, do not hold your breath, for neither Ripple nor the SEC has dropped their appeals… yet. 🤔
Meanwhile, the XRP price has jumped a thrilling 5% as Ripple’s legal drama continues to unfold. And why, you ask? Well, it seems that Ripple has partnered with BNY Mellon to manage RLUSD reserves, demonstrating stronger banking ties. Crypto analyst Ali Martinez has even predicted that XRP may soon hit $2.60. Ah, the suspense is killing me! 💸
And so, dear reader, we await the final act of this drama, our hearts pounding with anticipation. Will Ripple emerge victorious, or will the SEC launch a surprise counterattack? Only time will tell, but one thing is certain: the world of crypto is never dull. 😂
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2025-07-10 12:12