Fox Business correspondent Charles Gasparino on Ripple $2.2 and his characterization of Chairman Torres’ decision in the SEC case as “stupid” sparked controversy within the crypto industry. Gasparino’s comment sparked criticism among crypto market enthusiasts and lawyers. His comment revealed different perspectives on the impact of the case on the crypto industry.
Criticism of Gasparino
In his recent interview with Anthony Pompliano, Gasparino claimed that Mayor Torres has set a lower standard of openness for retail investors. Describing the decision as “stupid”, Gasparino argued that it could undermine the protection of retail investors.
“Mr.
Crypto influencer Tony Edward accused Gasparino’s opinion of being biased. Edward emphasized that Gasparino wanted Ripple to lose and that Mayor Torres did not consider secondary market sales as securities.
Opinions of Lawyers
Additionally, attorney Bill Morgan offered a different perspective, stating that Gasparino did not understand the case. Morgan stated that the decision only addresses Ripple’s programmed sales, and does not cover all secondary market transactions.
Gasparino criticized the SEC’s approach, claiming that the agency had misplaced its priorities. For example, he compared the tolerance shown towards individuals like Sam Bankman-Fried to the aggressive scrutiny Ripple has faced. He stated that this selective application indicates regulatory overreach.
Ripple’s Struggle and Market Developments
Ripple CEO Brad Garlinghouse expressed similar frustrations, calling the SEC’s actions an industry-wide threat. Garlinghouse argued that the agency’s failure to provide clear guidance has hindered innovation in the US crypto sector.
XRP prices have experienced a period of choppy trading in recent weeks, following a strong rally since November. However, with Trump’s election victory, expectations for a pro-crypto regulatory environment in the US have risen.
State of the XRP Community
Ripple’s partial victory in 2023 brought some relief to the XRP community. The court determined that secondary market sales of XRP were not securities. However, the SEC’s renewed appeal increased speculation. As market sentiment remains strong, analysts are optimistic about the future of Ripple’s native cryptocurrency.
Analysts predict that Ripple’s native cryptocurrency XRP may gain value in the coming period. Experts state that despite Ripple’s technological potential, regulatory uncertainties continue.
The future of XRP continues to be shaped depending on both the course of legal processes and market dynamics. The crypto community continues to closely follow Ripple’s successes in the case and the SEC’s stance.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
