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Happy times for the XRP Community

You've been living under a rock if you didn't hear yesterday that Ripple Labs finally, after 3 years of battling it, made a success in court against the SEC. And the jubilation in the crypto markets has been going strong since yesterday. But let's see, what do Judge Torres' rulings actually mean?

It seems that both Ripple and the Securities and Exchange Commission (SEC) have been proven right on several counts. Hmmm, that may not be what you wanted to hear, but I can't make it any other way. Attorney Jeremy Hogan delivered a beautiful ruling saying Judge Torres "gave the baby to both!" Recognizes that XRP sales made directly to buyers by Ripple should be considered securities. That is good for an amount of no less than $ 728 million dollars.

But wait, there's more. Judge Torres has also ruled that XRP's programmatic sales, or sales through exchanges, are not securities. So, congratulations to all 75,000 XRP holders! You can do your happy dance because your $757 million XRP remains safe. And if that wasn't enough, there are also "other" XRP sales that are not securities and are valued at $600 million.

But let's not forget that the SEC also got a little bit right. Yes, according to the judge, a contract is not necessarily necessary to be an effect.

ConsenSys attorney Bill Hughes is stunned if the SEC doesn't immediately appeal. This decision leaves open all possibilities for an appeal. In addition, we should also not forget that the top executives of XRP in particular seem to be facing another lawsuit for illegally selling securities. Let's face it, these developments do not mean the end of the XRP lawsuit, XRP is not completely off the hook yet. As much as we'd like to.

In any case, what we can conclude is that the SEC's strategy has taken a serious blow. And what we all like to see has now become reality. Our best friend Gary Gensler's credibility has never been lower. Maybe he will leave after all, or will he bite like a terrier and remain determined to bring down all crypto?

In short, even with this ruling by Judge Torres, there is still uncertainty, the possibilities for an appeal are open to both parties. And although Ripple celebrated it as a big win yesterday, they are certainly not out of the danger zone. This will most likely be continued. But all that aside, in the Netherlands, we have a proverb, "The first blow is worth a thaler", which roughly translated means that whoever deals gets the first win in a lawsuit knows will build up a considerable advantage over the counterparty. In that respect, this decision by Judge Torres can certainly be seen as a hugely positive development for Ripple. And... that can certainly be seen in the green crypto markets. Applause for Ripple and its (partial) triumph over the SEC!

New drama!

If you thought that the crypto world can now breathe a sigh of relief and that we are finally going to put the drama behind us. Then think again, because that is definitely not the case. Never a dull moment in the fast-paced world of crypto. While the XRP community is still celebrating, we are already facing another dramatic chapter. Recently Alex Mashinsky, co-founder of Celsius Network, was arrested. Let's take a look at the details of these recent developments.

One year ago, in July 2022, Celsius Network filed for bankruptcy and Alex's arrest stems from an investigation into Celsius's collapse. Alex Mashinsky and several others have seven charges pending. Of course, this includes an SEC charge of securities fraud. How could it be different? But in the case of Celsius, the SEC is not alone, CFTC (Commodity Futures Trading Commission) and FTC (Federal Trade Commission) are also interfering with Celsius.

There are a number of allegations against Alex, one of which is an accusation of "Deception". Alex allegedly envisioned Celsius as a bank where customers could deposit their crypto and earn interest. The reality turned out to be different. Celsius was run as an investment fund taking money (crypto) from clients under false and misleading pretenses. It allegedly misled investors regarding secured loans, bankrupt counterparties, and regulatory oversight. And these allegations have now resulted in the arrest of Alex Mashinsky and his right-hand man, Roni Cohen-Pavon.

Alex Mashinsky says "Not Guilty" by the way!

Who said bear markets are boring? Everything is happening!

Stay alert!

The last thing I want to give you is that there is more partial good news, crypto crimes have dropped by about 77%. Just don't get TOO happy about this news. There is also bad news. The Ransomware does make a comeback to steal your crypto assets. So stay alert, stay careful, and never forget to keep an eye on digital security!

I wish you a good and safe weekend!