0 sats \ 0 replies \ @k00b 14 Jul 2023 \ on: Crypto Twitter misinterpreted everything in SEC v. Ripple bitcoin
Based on the commotion I had assumed that all Ripple sales were declared legal. It appears only 1% of the sales were declared legal. The remaining 99% were probably mostly sold by exchanges which I guess is where fault lies?
The reality is more nuanced. In fact, Judge Torres explicitly declined to rule on the legality of 99% of XRP trading volume since 2017.
After explaining that programmatic sales of XRP were not unregistered securities offerings and that programmatic sales accounted for less than 1% of global XRP trading volume since 2017, she wrote, “The Court does not address whether secondary market sales of XRP constitute offers and sales of investment contracts because that question is not properly before the Court.”
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