American journalist Charles Gasparino remarked that Bloodbath would follow in the crypto industry if Ripple loses to the Securities and Exchange Commission in the two-year long lawsuit.
In a heated discussion with members of the XRP community, the journo claimed that the SEC had legitimate reasons to go after Ripple Labs Inc. Ripple’s legal counsel Stuart Alderoty has rejected arguments, as per the media reports.
Gasparino has clarified that he has no idea who will win the lawsuit. He even admitted that the judge’s comments “initially indicated she would side with Ripple,” but at the same time, he notified that this was before the “whole SBF FTX implosion.”
In his recent tweets, Gasparino shared his view on what consequences the crypto industry could face if the SEC won the case.
Gasparino tweeted that “crypto community sees a bloodbath if SEC prevails against Ripple in the form of more regs/oversight that will impact nearly every sector including the exchange biz given Gary Gensler’s desire to force registration of every coin but BTC.”
Ripple has stated that the company is fighting not just for itself, but for the whole crypto industry, to avoid an overreaching regulation by the SEC.
In another tweet, Gasparino noted referring to the largest American crypto exchange: “Coinbase tells FoxBusiness it’s developing a plan to survive a
SEC regulatory crackdown on digital assets using broker-dealers to trade coins registered as securities. Move comes as SEC case v Ripple looms; SEC win could force coins aside from BTC to register.”
Ripple’s 2023 Insights and XRP Price
On January 10th, 2023, Ripple published its crypto 2023 insight. According to Ripple, “From Non-Fungible Tokens (NFTs) to Central Bank Digital Currencies (CBDCs) to sustainability, most of the expectations for crypto this coming year involve its application for real-world utility.”
Additionally, Ripple’s SVP of Strategic Initiatives Eric Van Miltenburg predicts that “by 2025 at least half of all global universities will have incorporated blockchain, crypto and web3 into their core business and finance programs.”
General Counsel Stuart Alderoty expects to see a favorable decision from the Judge. XRP price at press time was $0.370441 USD with a 24-hour trading volume of $1.33 Billion USD. XRP is up by 2.25% in the last 24 hours, with a live market cap of $18.75 Billion USD (at press time).
Source: https://www.thecoinrepublic.com/2023/01/12/charles-gasparino-on-ripple-vs-sec-case/