Friday, December 9, 2022

Ripple targeted by The SEC

By DAC000 , in Regulation Ripple , at December 23, 2020 Tags: ,

yesterday evening news broke that Ripple was the target of an upcoming Securities and Exchange Commission (SEC) action, alleging multiple violations of laws protecting investors. On their web site Ripple posted a six page, high level response.. Fascinating and active Twitter thread below. About a ten minute read for both documents, as usual, Twitter thread is deep dive.

Comment: the price action on XRP has been interesting but I never was (strongly) tempted to engage, because I know Ripple, the creator of XRP, held over 60% of the tokens. In other words, the single largest holder was also somewhat associated with issuance, although that relationship was murky and never adequately (for my purposes) explained.