Game-Changing XRP Ruling: Crypto Community Celebrates SECs Defeat

By Lola Coin Jul 18, 202352Views

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In a surprising turn of events, Kain Warwick, the founder of Synthetix, hailed the recent XRP ruling as a significant victory for the cryptocurrency industry.

– The ruling in the SEC vs. Ripple Labs lawsuit validated several aspects that the decentralized finance (DeFi) community believed in.
– The judge differentiated between XRP sales to institutional investors, which were deemed unlawful securities sales, and programmatic sales on exchanges, which were not.
– While this ruling is a positive development, Warwick cautioned against premature celebration, as there may be appeals and the legal landscape could change.
– Synthetix, Warwick’s derivatives trading protocol, is playing a major role in the DeFi revolution with over $487 million in total deposits on Ethereum and Optimism Layer 2 network.

Hot Take: The XRP ruling is a notable win for the crypto industry, but it’s important to remain cautious as the legal battle is not yet over.

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