๐Crypto enthusiasts, buckle up! Ripple CEO Brad Garlinghouse is headed to trial over a securities claim. But don't worry, it's not all doom and gloom! The judge tossed out four other claims, so it's not a total wipeout. ๐โโ๏ธ
The claim? Garlinghouse allegedly made "misleading statements" during a 2017 TV interview. Ripple's lawyers argued that XRP isn't a security under the Howey Test, so no foul play here. But the judge wasn't buying it. ๐ต๏ธโโ๏ธ
Remember Judge Torres' ruling that XRP isn't a security when sold to retail participants on crypto exchanges? Well, this judge didn't follow suit. She believes Ripple's conduct could have led investors to expect profit. ๐คทโโ๏ธ
Ripple's Chief Legal Officer, Stu Alderoty, insists Torres' ruling in the SEC case still stands. So, what's your take? Is XRP a security or not? Let's hash it out in the comments! ๐ฃ๏ธ๐ #Ripple #DeFi #CryptoNews