My beautiful people from the crypto world! The Ripple vs. SEC saga keeps making headlines, and this time the gossip is of epic proportions! 🤯 It turns out that a rumor is circulating on social media that due to this legal battle, Ripple has lost million-dollar contracts; it is even said that JP Morgan has gone to the competition, Coinbase, and that cost Ripple billions of dollars! 😱
But, be careful! The situation is not as simple as it seems. It is true that Coinbase is not in the same legal trouble as Ripple; it has no lawsuits or court orders against it, so it can operate more freely, without that sword of Damocles hanging over Ripple. It's like playing with the cards in your favor, right? 😉
Some XRP fans are furious with Judge Analisa Torres, saying that her constant postponements are "disgusting" and are even calling for an investigation for corruption. People can't take it anymore! 😤
However, to calm things down a bit, a former SEC lawyer, James Farrell, came out to refute these accusations. He says that if Ripple had truly lost business due to a legal prohibition, the company would have already stated it in its court documents! Moreover, Ripple's own papers argue that they need to operate under the same conditions as others in the market, and that only happens if they do not have a prohibition hanging over them! That is to say, if it affected them so much, why didn't they use it as an argument in their defense? 🤔
Farrell also reminded us that both the SEC's appeal and Ripple's counter-appeal are still active, but suspended! It's like a pause in the game. ⏸️ If that suspension is lifted, Ripple will have to respond to the SEC's appeal and then present its own case.
So, for now, although online conversations suggest otherwise, there is no clear evidence that Ripple has lost billions of dollars in business. The truth of this matter will be known when the court decides whether to lift the suspension and both parties engage in a full debate. In the meantime, let's stay alert, as this saga still has chapters to write! 🍿$XRP
