The Ripple-SEC Legal Battle: An XRP Army Victory
In a groundbreaking turn of events, the Ripple vs. SEC battle is now inclusive of XRP holders, thanks to Naomi Brockwell’s courageous efforts. Renowned cryptocurrency influencer @novogratz emphasized the undeniable presence of the “XRPArmy” and their contribution to Ripple’s legal defense against the SEC.
Thousands of XRP holders filed affidavits to demonstrate their investment motivations, and Judge Torres acknowledged their collective effort, highlighting the influence of the XRP community.
The Writ of Mandamus: A Game-Changer
The case made a pivotal turn with the Writ of Mandamus, forcing the SEC to recognize that the determination of a security is the court’s prerogative, not theirs. This led to a reevaluation of the SEC’s stance and its theories on cryptocurrencies, as Judge Torres dismissed the SEC’s “embodiment theory.”
Amici Curiae and the SEC’s Expert Witness
XRP holders’ participation as amici curiae was crucial in challenging the SEC’s expert witness, ultimately leading to the exclusion of his testimony, a significant victory for Ripple and XRP holders.
Naomi Brockwell’s Impact
Naomi Brockwell’s involvement in the case added another layer to the legal saga, highlighting the importance of individual voices in shaping legal outcomes in the cryptocurrency space.
Hot Take
The involvement of XRP holders and Naomi Brockwell has turned the tide in the Ripple-SEC battle, emphasizing the power of collective action in shaping legal outcomes in the cryptocurrency industry, marking a significant win for Ripple and XRP holders.
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