Happy

Chair

Gary

Read

<ul> 
 <li><a href="https://cryptonewsland.com/xrp-community-awaits-judges-judgment/">XRP community</a> divided over SEC’s $2 billion settlement demand.</li> 
 <li>Debate: Revenge-driven or strategic move by SEC’s Gary Gensler.</li> 
 <li>Ripple’s inability to pay shifts the burden to the broader <a href="https://cryptonewsland.com/massive-liquidity-approaching-crypto/">crypto market</a>.</li> 
</ul> 
<p>In the ongoing saga between <a href="https://ripple.com/" target="_blank" rel="noreferrer noopener nofollow">Ripple</a> and the <a href="https://www.sec.gov/" target="_blank" rel="noreferrer noopener nofollow">SEC</a>, the XRP community finds itself divided over <a href="https://cryptonewsland.com/xrp-approaches-a-penultimate-close-in-showdown-against-the-sec/" target="_blank" rel="noreferrer noopener">Gary Gensler’s latest move</a>, interpreting it as either a vengeful act or a strategic maneuver.</p> 
<p>Firstly, some XRP enthusiasts view Gensler’s demand for a $2 billion settlement as a vendetta against Ripple for its legal victories. Despite the SEC’s losses on major arguments, it aims to impose hefty penalties, sparking accusations of revenge rather than investor protection.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">The <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw">@SECGov</a> lost on its central arguments in the <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw">@Ripple</a> case, winning only on failure to register investment contracts with a small group of institutional investors. It’s going to demand 300+% in remedies.<br><br>This isn’t about protecting investors. It’s about revenge for losing. <a href="https://t.co/QpdRFVs0Gu">https://t.co/QpdRFVs0Gu</a></p>— CryptoLaw (@CryptoLawUS) <a href="https://twitter.com/CryptoLawUS/status/1772346866992074852?ref_src=twsrc%5Etfw">March 25, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>On the flip side, others regard Gensler’s actions as calculated and strategic. They credit him as possibly the savviest SEC official, noting his keen understanding of the crypto landscape. Gensler’s proposed settlement, demanding $2 billion from Ripple, could potentially designate XRP as the first regulated altcoin, a significant development for the entire industry.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Gary Gensler (SEC) is possibly the smartest SEC official in history. <br><br>He understands his position and plays his cards perfectly <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4af.png" alt="💯" class="wp-smiley" style="height: 1em; max-height: 1em;"> <br><br>Today was one of the most important days for the entire Crypto industry. <br><br>This is the wealth transfer phase of the cycle therefore everyone must…</p>— The Three Antons (@The3Antons) <a href="https://twitter.com/The3Antons/status/1772531031935189257?ref_src=twsrc%5Etfw">March 26, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Analysts dissect the implications, emphasizing Ripple’s inability to pay the settlement in cash but holding substantial XRP reserves. This scenario implies that the burden of payment would shift to the broader crypto market, affecting market makers and hedge funds.</p> 
<p>Furthermore, Gensler’s timing aligns with the current crypto boom, positioning the SEC for a substantial windfall amid global economic challenges. With millions worldwide reaping crypto gains and governments facing financial strains, the SEC’s demand arrives amidst a pivotal moment, poised to capitalize on the industry’s exponential growth.</p> 
<p>As the community braces for potential volatility and a wealth transfer, the XRP Army anticipates a <a href="https://cryptonewsland.com/ripple-vs-sec-on-winning-the-legal-battle-xrp-has-higher-chances-to-hit-5-along-with-this-altcoin/" target="_blank" rel="noreferrer noopener">reevaluation of XRP’s true value</a> post-settlement, marking a significant milestone after years of legal and market turbulence.</p> 
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4> 
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/challenges-sec-chair-gary-gensler-faces-in-the-crypto-space-expert-weighs-in/">Challenges SEC Chair Gary Gensler Faces in the Crypto Space- Expert Weighs In</a></li>
 <li><a href="https://cryptonewsland.com/gary-gensler-gets-roasted-after-saying-happy-birthday-btc/">Gary Gensler Gets Roasted After Saying Happy Birthday BTC</a></li>
 <li><a href="https://cryptonewsland.com/gensler-talks-with-bankman-fried-now-under-us-house-probe/">Gensler Talks With Bankman-Fried Now Under US House Probe</a></li>
 <li><a href="https://cryptonewsland.com/digital-arms-partners-with-farcana-to-connect-battle-royale-shooter-metaverses/">​​Digital Arms Partners with Farcana to Connect Battle Royale Shooter Metaverses</a></li>
 <li><a href="https://cryptonewsland.com/michigan-rep-rebukes-gensler-you-have-no-right-on-crypto/">Michigan Rep Rebukes Gensler: You Have No Right on Crypto</a></li>
</ul>    
<p>The post <a href="https://cryptonewsland.com/xrp-army-recognises-gary-genslers-last-shot-at-revenge/">XRP Army Recognises Gary Gensler’s Last Shot at Revenge</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

XRP Army Recognises Gary Gensler’s Last Shot at Revenge

Crypto News Land

Other articles published on Mar 27, 2024

Tech Advancements Predict Sixfold Surge in Data Center Energy Consumption, UK’s National Grid CEO

Giga Energy Expands Bitcoin Mining Using Flared Gas in Argentina

Judge rules SEC vs. Coinbase case to proceed

Ripple, Cardano traders excited by NFTFN’s potential, eyes presale

Bitget Token: How High Can the BGB Price Go?

Shiba Inu: Ethereum’s Vitalik Buterin Lauds SHIB, Price Rallies 8%

Join our free newsletter for daily crypto updates!