Gary's $2B Dream Turns into $125M Ripple Punch in the Nutz

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Links to Articles We Discuss

SEC Asks NY Court to Deny Coinbase’s ‘Breathtakingly Broad’ Subpoena Request

The regulatory agency has taken umbrage with Coinbase’s attempt to subpoena SEC Chair Gary Gensler’s personal emails.

CoinDeskCheyenne Ligon

I see lots of questions re what the injunction means for ODL sales. I don't see it changing the status quo AT ALL, for the following reasons:

1. As Ripple has stated, the majority of its XRP and ODL sales are outside the U.S. jurisdiction and not subject to the ruling. Those… pic.twitter.com/3GimWEcp0c
— Jeremy Hogan (@attorneyjeremy1) August 7, 2024

Judge Torres has issued her ruling on remedies in @Ripple.

1. $0 disgorgement as expect because no losses shown by the SEC.

2. $125 million in civil penalty for securities violations in sales to institutions.

3. Injunction restraining @Ripple from further violations of…
— MetaLawMan (@MetaLawMan) August 7, 2024

The SEC's unhinged campaign against us is finally over. Let’s all hope this ends this Administration’s war on crypto. https://t.co/XEjXKRoPFy
— Chris Larsen (@chrislarsensf) August 7, 2024

A final judgment. The Court rejects the SEC’s suggestion that Ripple acted recklessly and she reminds the SEC that this case did not involve any allegations of fraud or intentional wrongdoing, and no one suffered any financial harm. She rejects the SEC’s absurd demand for $2B in… https://t.co/RbwpBnoXJG
— Stuart Alderoty (@s_alderoty) August 7, 2024

🚨 Jungle Inc Investigates: Ripple & XRP Ledger Foundation Headed for Nasty Separation 🚨

A day after the announcement of the XRPLF rebrand, a clearer picture emerges. What does this mean for XRP investors?

Read more here: https://t.co/A0GJzsYtW7
— Jungle Inc: Deaton 4 Senate (@jungleincxrp) August 7, 2024

How can we trust Senator Lummis (@SenLummis) when she couldn't even endorse the crypto candidate John Deaton?

Instead, she endorsed Ian Cain, a Democrat plant candidate who has only ever donated to Democrats.

Very troubling, indeed! https://t.co/vxyNmsm87W
— Chip – onthechain.io (@stephenchip) August 7, 2024

Now let's see the Senate races and we will see if John Deaton is included.@fairshake already contributed $10 million to Adam Schiff’s Senate primary, even though he was in no real danger of losing.

Deaton is running against Elizabeth Warren, one of the most anti-crypto…
— Chip – onthechain.io (@stephenchip) August 7, 2024

Kamala is quite literally a communist.

She wants not merely equal opportunity, but equal outcomes. https://t.co/XIS8HSbLbC
— Elon Musk (@elonmusk) August 7, 2024

Hi Jungle, thanks for your questions. As Bharath and David mentioned, more details to come but to clarify for now, the discussions with XRPLF, XRPL Labs, XRPL Commons, Ripple and others are about a new (independent) XRPL foundation -- this is different from the new INFTF…
— Monica Long (@MonicaLongSF) August 7, 2024

Only the XRP holders got hurt.

Zero settlement for us. 😆
— Chip – onthechain.io (@stephenchip) August 7, 2024