Questioning CNBC’s Coverage of SEC v. Ripple Case
CNBC, a well-known news channel, is facing criticism for its failure to address the impact of the SEC v. Ripple case on regular investors of XRP, a popular cryptocurrency.
Attorney John Deaton Speaks Out
Representing more than 75,000 XRP investors, Attorney John Deaton has called out CNBC for its lack of coverage on the SEC’s actions against ordinary people who hold XRP.
In a recent tweet, Deaton pointed out that CNBC had previously expressed positive sentiments about XRP. Back in 2018, one of their reporters, Brian Kelly, even deemed it safe and provided instructions on how viewers could purchase the cryptocurrency.
“Why did CNBC tell people how to buy XRP and say it’s safe, but now they’re not saying anything about the SEC saying it’s not safe?” – Deaton
Potential Bias from Former SEC Chair
Some individuals speculate whether Jay Clayton, the former head of the SEC who now appears on CNBC, may be influencing the network’s coverage. Deaton questions whether Clayton’s new role could impact the fairness of CNBC’s reporting.
Deaton asserts that someone with Clayton’s background overseeing a major capital market should provide unbiased reporting based on facts.
- Deaton also suggests that CNBC’s silence may be influenced by the fact that Jay Clayton, who authorized the lawsuit against Ripple, is now affiliated with the network.
The Ongoing SEC v. Ripple Lawsuit
The SEC v. Ripple lawsuit has been ongoing for nearly three years since charges were filed against Ripple in 2020. The SEC alleges that Ripple conducted an unregistered securities offering through the sale of XRP.
Hot Take: CNBC’s Responsibility to Inform and Address Concerns
As a prominent news channel, CNBC has a responsibility to inform its viewers about significant developments in the cryptocurrency market. By neglecting to discuss the SEC v. Ripple case and its impact on XRP investors, CNBC is failing to address the concerns of regular people who have invested in this digital asset. It is crucial for CNBC to provide unbiased reporting and shed light on both sides of the story, ensuring that viewers are well-informed and can make educated decisions regarding their investments.
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