๐Ripple Labs' CEO is in hot water as a U.S. federal court advances a civil securities lawsuit against him. The judge says, "Hold up, a jury will decide if you've been naughty or nice!" ๐
The CEO claimed to be "very, very long" on XRP in a 2017 interview. But the lawsuit says, "Wait a minute, you sold millions of XRP that year!" ๐ค
Ripple's legal eagle chirps, "We're pleased most claims were dismissed. The surviving claim will face trial." He also insists XRP isn't a security under the Howey test. But the judge disagrees, suggesting XRP could be seen as a security when sold to non-institutional investors. ๐ฆ
The crypto community celebrated a 2023 ruling in Ripple's favor, hoping it would set a precedent. But alas, its impact has been less significant than expected.
What do you think? Is XRP a security or not? Let's hash it out in the comments! #DeFi #Web3 #Technology