Reading time: ~ 2 m
Prominent cryptanalyst Lark Davis said the crypto community must “root for Ripple to win” this trial.
In a recent video full of interesting predictions for 2022, renowned New Zealand cryptanalyst and overall influencer Lark Davis told more than 476,000 YouTube subscribers why the crypto community must “root for Ripple to win” this trial. The lawsuit was filed by the US Securities and Exchange Commission (SEC) against a California-based fintech firm.
This video was about a tweet that Davis posted on December 16 in which he revealed his eight best “shocking” crypto-related predictions for 2022.
One of these predictions was about Ripple. As you may recall, on December 22, 2020, the SEC announced that it “has filed a lawsuit against Ripple Labs Inc. and two of its executives, who are also large holders of securities, claiming that they illegally made more than $ 1.3 billion in securities and digital assets. “
In a video posted on December 27, Davis says Ripple will win this lawsuit, or at least he truly hopes so. Davis says the SEC is behaving like a “school bully” and that the SEC’s position (and in particular its chairman Gary Gensler) is that almost all crypto assets currently listed on exchanges are unlisted securities. severely restricts the participation of US investors in the crypto space (for example, he says they are not allowed to participate in the ICO).
Davis went on to say that if Ripple wins the case, it will “set a significant precedent” and put the SEC “in its place.” He says this is why everyone in the crypto community should be rooting for Ripple to win. He believes that this would be “pure positive” for the crypto industry. On the other hand, if the SEC beats Ripple, it will give them confidence to take legal action against a wide range of tokens.
Posted by Anastasia Zapolskaya, analyst at Freedman Сlub Crypto News
#SEC #lawsuit #XRP #Cryptanalysts #Opinion