- The founder of crypto law.us, a U.S. legal and regulatory news channel for digital asset holders, attacked Lark Davis for asking about the XRP’s value.
- The attorney was replying to a random tweet by Davis, who stated on November 25;
“Soo… if JP Morgan is using $Matic and $AAVE to sort out USD to JPY forex transactions then what is the worth hypothesis for XRP now?
Lark Davis is an excellent influencer in the crypto industry who has more than one million followers on Twitter and more than 480,000 subscribers on Youtube, along with a two-year-old weekly newsletter known as Wealth Mastery. In line with Deaton, Davis wrong in believing that the SEC proceedings were restricted to Ripple sales. The lawyer further questioned the influencer’s grip over XRP.
“Does he actually think as JPM is using Matic and AAVE to sort out USD to JPY, that in some way lessens the worth proposition for XRP? Initially, does he is not aware of the dissimilarity between Ripple and XRP?” as tweeted by Deaton.
He further went on with “to the attorney, Davis’ question would have more sense if he had asked if JPM’s use of Matic and AAVE negatively impacted Ripple’s business model. Also, it is very astonishing to me that XRP is still among the most misinterpreted cryptos out there– still it has been around and near the high for about 10 years.
Deaton claimed that the worth of XRP was represented in the manner it had been in the list of top ten cryptocurrencies per market capitalization despite being rejected by big US crypto exchanges after the SEC instituted the suit against Ripple in 2020. Moreover, he highlighted that Ripple was among some firms indulged in crypto development and employment.
The differentiation
The SEC vs Ripple case has been around for almost two years, many users still cannot identify the difference between XRP, XRP Ledger, Ripple, and RippleNet. For example, Ripple is a company creating crypto payment infrastructure for businesses and institutions. RippleNet is Ripple’s system that is used by financial institutions. Such as SWIFT, Ripplenet has its system and network of financial institutions and is comprised of many products and services, such as on-demand liquidity (ODL).
Similarly, XRP is the native token of the XRP Ledger. At present, hundreds of projects are being created on XRPL, with XRP and its technology being used for many use cases, adding settlements, micropayments, Defi, tokenization, and NFTs.
Source: https://www.thecoinrepublic.com/2022/11/27/crypto-lawyer-points-out-the-worth-of-xrp-despite-brutal-sec-case/