{"id":1079,"date":"2024-10-14T05:02:05","date_gmt":"2024-10-14T05:02:05","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=1079"},"modified":"2024-10-14T05:02:05","modified_gmt":"2024-10-14T05:02:05","slug":"ripple-ceo-drops-bombshell-accuses-renegade-sec-of-breaking-the-rules","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=1079","title":{"rendered":"Ripple CEO Drops Bombshell, Accuses \u2018Renegade\u2019 SEC Of Breaking The Rules"},"content":{"rendered":"
\n

If you think the four-year rift between Ripple Labs and the US Securities and Exchange Commission (SEC) is over, think again. In a series of X (Twitter) posts, Ripple executives shared their frustrations with the SEC after it ignored the court\u2019s recent decision on XRP.<\/p>\n

Despite a recent court ruling<\/a>, Ripple\u2019s Chief Legal Officer, Stuart Alderoty, challenges the agency\u2019s continued claim that XRP is a security. Brad Garlinghouse, Ripple\u2019s CEO, has joined the chorus, calling the SEC \u201ca renegade agency.\u201d<\/p>\n

Ripple\u2019s troubles with the SEC has a long history. Ripple<\/a> was launched in 2012 and caught the industry\u2019s attention in such a short time. By 2013, the company rebranded to Ripple Labs and soon partnered with Germany\u2019s Fidor Bank. Ripple\u2019s decentralization and unique consensus mechanism validate its standing as a force in cross-border payments.<\/p>\n

However, its growing popularity comes at a cost: the US SEC launched an investigation into the company, which continues to ripple (no pun intended) until today.<\/p>\n

\n

A new low for a renegade agency many thought couldn\u2019t sink further.<\/p>\n

The SEC now believes it can operate above the law, ignoring a Court\u2019s ruling that XRP isn\u2019t a security.<\/p>\n

Team Ripple will be watching closely and weighing our own options to hold the SEC accountable. https:\/\/t.co\/9yMWsNHRde<\/a><\/p>\n

\u2014 Brad Garlinghouse (@bgarlinghouse) October 11, 2024<\/a><\/p>\n<\/blockquote>\n

Bitnomial Case Offers A Brief Win For Ripple<\/strong><\/h2>\n

The latest flurry of Twitter\/X posts from Ripple Labs execs come after the judge ruled on the Bitnomial case<\/a>. Bitnomial, a popular crypto derivatives exchange, filed a lawsuit against the SEC in an Illinois court. The company challenged the SEC\u2019s claims that its proposed XRP Futures contracts are subject to the agency\u2019s jurisdiction. Bitnomial argues that XRP is not a security, and its anonymous sale in the secondary market is not considered a sale of investment contracts.<\/p>\n

<\/p>\n

US District Judge Analisa Torres ruled in favor of Bitnomial, stating that XRP is not a security. For Ripple Labs and its holders, it\u2019s a win for their cause. But the SEC thinks otherwise, and the agency continues to see Ripple\u2019s token as a security.<\/p>\n

\"\"<\/p>\n

Ripple Team Calls Out SEC\u2019s Stance<\/strong><\/h2>\n

Ripple\u2019s legal team mocked the SEC\u2019s stance after it lost in court, yet it continues to call for compliance. The company adds that the move compromises the agency\u2019s integrity and legitimacy. Alderoty further claims that the agency\u2019s stance is unconstitutional and hurts its credibility.<\/p>\n

Garlinghouse\u2019s Twitter\/X post captures the frustration at Ripple Labs. He says that the agency has entered a \u201cnew low.\u201d He thinks that the agency believes it\u2019s above the law by ignoring a court\u2019s ruling.<\/p>\n

Ripple Labs Gets Support From Outside The Industry<\/strong><\/p>\n

Ripple Labs has a few supporters outside of the industry. Legal luminaries like John Deaton and Bill Morgan questioned the SEC\u2019s position and motives in the Ripple Labs case. Deaton shared the recent case with Digital Licensing in which the agency was flagged for misconduct, thus raising questions about its approach and policy.<\/p>\n

Featured image from CNBC, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

If you think the four-year rift between Ripple Labs and the US Securities and Exchange Commission (SEC) is over, think again. In a series of X (Twitter) posts, Ripple executives shared their frustrations with the SEC after it ignored the court\u2019s recent decision on XRP. Despite a recent court ruling, Ripple\u2019s Chief Legal Officer, Stuart […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-1079","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1079","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1079"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1079\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}