Gemini

Cardano

<html>
 <head></head>
 <body>
 <figure> 
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a> 
 </figcaption> 
 </figure> 
 The massive <a href="https://u.today/major-ripple-vs-sec-update-xrp-explodes-16-as-judge-torres-delivers-pivotal-summary-judgment" rel="noopener noreferrer nofollow">Ripple ruling</a> that saw Judge Analisa Torres declare that all secondary sales of XRP are not investment securities has fueled a whole new thesis formation by top leaders in the broader crypto ecosystem. Gemini co-founder and CEO Cameron Winklevoss <a href="https://twitter.com/tyler/status/1679535692131467264" rel="noopener noreferrer nofollow">believes</a> the new regulatory clarity for XRP and the precedent the ruling ushered in is in the best interest of top crypto exchange Coinbase Global Inc. 
 Taking to his official Twitter account, Cameron said the Ripple ruling "decimates" the lawsuit brought on by the United States Securities and Exchange Commission (SEC) against Coinbase. Recall that the SEC had <a href="https://u.today/cardano-ada-alleged-as-security-again-as-sec-now-sues-coinbase" rel="noopener noreferrer nofollow">alleged</a> that Coinbase violated a number of securities laws through its support of unregistered securities offerings. 
 <blockquote class="twitter-tweet"> 
 The Ripple ruling today decimates the <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@SECGov</a>'s case against <a href="https://twitter.com/coinbase?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@coinbase</a>. Have fun with that one <a href="https://twitter.com/GaryGensler?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@GaryGensler</a>. <a href="https://t.co/2lfFXxX2Xf" rel="noopener noreferrer nofollow">https://t.co/2lfFXxX2Xf</a>— Tyler Winklevoss (@tyler) <a href="https://twitter.com/tyler/status/1679535692131467264?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 13, 2023</a> 
 </blockquote> 
 Based on Judge Torres' ruling, all secondary sales of XRP, and by extension, any token, do not constitute securities. With Coinbase supporting tokens as a secondary broker, the argument of the market regulator might not hold much water when properly analyzed by the presiding judge. 
 <a href="https://u.today/major-ripple-vs-sec-update-xrp-explodes-16-as-judge-torres-delivers-pivotal-summary-judgment" rel="noopener noreferrer nofollow">card</a> 
 The SEC v. Coinbase case is still in its infancy, but the precedent set by the XRP ruling can considerably shape how the proceedings and arguments will go. 
 <h2 id="bigger-win-for-crypto-ecosystem">Bigger win for crypto ecosystem</h2> 
 The XRP win, though with other considerations and rulings to come, has been tagged a big win for the broader digital currency ecosystem. Besides XRP, the SEC has tagged more altcoins, including Cardano (ADA), Solana (SOL), Polygon (MATIC) and Filecoin (FIL), among others, as investment contracts. 
 <a href="https://u.today/cardano-ada-alleged-as-security-again-as-sec-now-sues-coinbase" rel="noopener noreferrer nofollow">card</a> 
 As tokens are designed based on open-source algorithms, the designation of XRP may also be applied to these altcoins in the long run as well. The price momentum on the market, as <a href="https://u.today/xrp-soars-70-and-surpasses-bnb-as-coinbase-and-kraken-announce-relisting" rel="noopener noreferrer nofollow">fueled</a> by XRP, is proof that investors are quite elated about the Ripple ruling, with the combined market cap jumping by a massive 6.31% to $1.26 trillion.
 </body>
</html>

Ripple Ruling 'Decimates' SEC's Case Against Coinbase: Gemini CEO

Table of Contents

U_Today

Other articles published on Jul 14, 2023

DOGE vs. PEPE: Who Will Outshine the Other in the Next Cycle?

What 3 Crypto Assets To Play Market Uptrends And Downtrends

Solana is Trying to Break Some Crucial Levels-Can it Makes it Beyond $35 Today?

Ordinals Summit 2023 in Singapore set to be Asia’s first large-scale Bitcoin Ordinals event

CEO of Circle Warns US Dollar’s Global Reserve Currency Status Could Be Jeopardised

Polygon Unleashed: MATIC undergoes Remarkable Rebranding, Introducing POL Token and Pioneering Co...

Join our free newsletter for daily crypto updates!