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‘SEC’s Lawsuit Is Not Limited to Ripple Sales,’ Says John Deaton

John Deaton says the XRP has been one of the top ten cryptos for a decade.Deaton further added that the SEC lawsuit is just not limited to the sales of Ripple.As of press time,...
‘SEC’s Lawsuit Is Not Limited to Ripple Sales,’ Says John Deaton ‘SEC’s Lawsuit Is Not Limited to Ripple Sales,’ Says John Deaton
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  • John Deaton says the XRP has been one of the top ten cryptos for a decade.
  • Deaton further added that the SEC lawsuit is just not limited to the sales of Ripple.
  • As of press time, XRP ranks number 7 token on CoinMarketCap.

Crypto Law Founder, John Deaton, in a recent post on Twitter, shared some facts about Ripple (XRP). Deaton claims that XRP has been one of the largest cryptos as it has stood the test of time. Per Deaton’s survey, the altcoin has been one of the top ten cryptos for a decade.

Deaton further went on to add that the U.S. Securities and Exchange Commission’s (SEC) lawsuit is just not limited to the sales of Ripple. He added, that as per SEC, every sale of XRP no matter who sells it, is considered a security.

Furthermore, the move is what led Coinbase (NASDAQ:COIN), Kraken Exchange, and others to delist XRP from their exchanges. However, even after all going south for XRP, the altcoin has managed to maintain its position as the top ten cryptos even today.

Deaton, in the same tweet, went on to add that it would be naive of crypto influencers including Lark Davis who would think that the value of XRP would fall because JP Morgan chose to use Matic and Aave to settle USD to JPY.

Davis had tweeted:

Sooo…. if JP Morgan is using $matic and $aave to settle USD to JPY forex transactions then what is the value proposition for #XRP now?

Deaton was seen defending Ripple in further instances. He went on to add that Davis does not know the difference between Ripple and XRP. He further added that had Davis asked if JPM’s use of Matic and Aave negatively impact Ripple’s business model, the claim would have made some sense.

While concluding the thread, Deaton stated that it’s a surprise that XRP remains one of the most misunderstood cryptos even after being around and near the top for a decade.

As of press time, XRP ranks number 7 token on CoinMarketCap. The price of the coin is currently moving at $0.4158.

The post ‘SEC’s Lawsuit Is Not Limited to Ripple Sales,’ Says John Deaton appeared first on Coin Edition.

See original on CoinEdition

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06-12-2022 00:28:13 (UTC+7)

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136.43

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0.6716

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143.45

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    EUR/USD 1.0513 ↑ Buy  
    GBP/USD 1.2198 ↑ Buy  
    USD/JPY 136.43 ↑ Sell  
    AUD/USD 0.6716 ↑ Sell  
    USD/CAD 1.3574 Neutral  
    EUR/JPY 143.45 ↑ Buy  
    EUR/CHF 0.9890 ↑ Buy  
    Gold 1,783.50 Neutral  
    Silver 22.440 Neutral  
    Copper 3.8030 ↑ Sell  
    Crude Oil WTI 78.58 ↑ Sell  
    Brent Oil 84.27 ↑ Sell  
    Natural Gas 5.678 ↑ Sell  
    US Coffee C 163.15 Buy  
    Euro Stoxx 50 3,956.53 ↑ Sell  
    S&P 500 4,017.70 ↑ Buy  
    DAX 14,447.61 ↑ Sell  
    FTSE 100 7,567.54 ↑ Sell  
    Hang Seng 19,518.29 Buy  
    Small Cap 2000 1,843.65 ↑ Buy  
    IBEX 35 8,370.10 ↑ Sell  
    BASF 47.970 Sell  
    Bayer 53.09 ↑ Buy  
    Allianz 203.00 Buy  
    Adidas 122.06 ↑ Sell  
    Lufthansa 7.766 ↑ Buy  
    Siemens AG 135.44 ↑ Buy  
    Deutsche Bank AG 10.150 Neutral  
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