A video of David Sacks commenting on the July 2023 ruling in the SEC v. #Ripple lawsuit goes viral within the XRP community after his appointment as White House AI and Crypto Czar.
Sacks Says Ripple Won SEC Lawsuit
Sacks commented on the Ripple/XRP verdict during his appearance on the All-In Podcast on July 14, 2023, a day after Judge Torres released her summary judgment decision.
During the podcast, Sacks pointed out that Ripple won the lawsuit, indicating that the judge held that its sales of XRP do not constitute offers in investment contracts. He asserted that the ruling vindicated Ripple.
This suggests that the ruling validates Ripple’s arguments that XRP is not a security and should not be subject to the SEC’s scrutiny. Furthermore, Sacks highlighted XRP’s significant gains following the verdict, stating that the coin’s price has skyrocketed by 35% in reaction to the ruling.
