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1/ I agree with the erudite @stephendpalley (unless your first name rhymes with “beston”, how can you not?).
However, there is an important imbedded question: who are these “Ripplers”?
https://twitter.com/stephendpalley/status/1388513215127166986
However, there is an important imbedded question: who are these “Ripplers”?
https://twitter.com/stephendpalley/status/1388513215127166986
2/ If the “Ripplers” are the named defendants (Ripple Labs, Inc. and two executives), that is one thing. But what about those who hold #xrp tokens? Are they also “Ripplers”?
3/ Although the SEC complaint frequently states that the #xrp token is a “security”, that question is not at issue in the case.
The case in fact follows a long line of enforcement actions that have targeted promoters who have sold everything from
to 
...
The case in fact follows a long line of enforcement actions that have targeted promoters who have sold everything from
to ...
4/ ... promising (or implying) high returns when whatever was sold was later disposed. In this respect, it is not a novel fact pattern.
5/ There is a separate question as to whether each person, unrelated to Ripple Labs, who later bought or sold #xrp was also engaging in a securities transaction.
6/ For many reasons, this question will prove to be much more challenging to establish in a courtroom.
7/ At the same time, if Ripple Labs loses and can no longer support their protocol, can the community come together, support the 
, and independently promote the value of #xrp?
This is the social experiment I’m curious to see.
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, and independently promote the value of #xrp? This is the social experiment I’m curious to see.
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