Lawyer John E Deaton made an important analysis.
Lawyer John E Deaton on twitter made an important analysis. He noted:
#XRP has been a Top 10 Crypto for a decade. When FinCEN settled w/@Ripple in 2015 #XRP was #2. Between 2017-2018 it battled #ETH consistently for #2. In October 2018 even after Hinman gave #ETH a free pass #XRP was briefly #2. XRP was #3 when the SEC sued Ripple in December 2020.
The SEC’s lawsuit, however, is not limited to Ripple sales. The SEC has alleged that all #XRP no matter who sells it, is always a security. This is what caused @coinbase @krakenfx, and others to suspend/delist #XRP. Yet, despite all of this, #XRP remains a Top 10 Crypto today.
The point is, one would think that a major crypto influencer, like @TheCryptoLark, would have a much better understanding of #XRP. Does he really think because JPM is using #matic & #aave to settle USD to JPY that that somehow lessens the value proposition for #XRP?
First, does he not know the difference between @Ripple and #XRP? His question would make more sense if he had asked, does JPM’s use of #matic & #aave negatively impact Ripple’s business model. Of course, Ripple is one of the few companies involved in Crypto growing and hiring.
Does he know the overall size of the Forex market? Does he know that Ripple is only one company utilizing the #XRPLedger. It is very surprising to me that #XRP remains one of the most misunderstood cryptos out there – even though it has been around and near the top for a decade.