For Galaxy Digital CEO Michael Novogratz, the most successful crypto projects share one thing in common – a fiercely committed community.
In a recent conversation, he pointed to Ripple’s drawn-out legal fight with the U.S. Securities and Exchange Commission as proof of how grassroots backing can sustain a project under pressure.
Novogratz noted the sheer persistence of Ripple’s supporters, often referred to as the “XRP Army,” and singled out attorney John Deaton for his relentless presence during the case.
Deaton’s constant updates and courtroom advocacy, Novogratz said, became a rallying point for thousands of XRP holders worldwide.
That level of involvement didn’t come without criticism. Deaton says he faced pushback from some in the Bitcoin community for defending Ripple – despite holding more Bitcoin and Ethereum than XRP himself.
For him, the matter wasn’t about personal gain but about principle: the belief that ordinary people should be free to invest where they choose without regulators deciding winners and losers.
His stance struck a chord globally, eventually drawing 75,000 XRP holders from 143 countries into the effort. The scale of that participation, Deaton argues, is itself an example of decentralization in action.
The Ripple case may not be the last time a crypto community mobilizes so forcefully, but it remains a standout example of how collective conviction can shape a project’s reputation – and potentially its outcome – in the face of regulatory headwinds.
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Source: https://coindoo.com/xrp-army-shows-how-community-can-defend-a-project-against-regulators/