Ripple Chief Legal Officer (CLO) Stuart Alderoty has reignited optimism in the cryptocurrency community with a post on X highlighting Ripple’s legal triumphs over the U.S. Securities and Exchange Commission (SEC).
The post celebrated the resilience of Ripple and its supporters, crediting the team’s legal strategy and the unwavering backing of the XRP community.
In his statement, Alderoty praised Ripple’s ability to withstand what he described as SEC Chair Gary Gensler’s “inexplicable war on crypto.” He acknowledged the pivotal role played by Ripple’s legal team and community supporters in navigating the complex legal challenges.
“Ripple provided the blueprint to defeat Gary Gensler’s inexplicable war on crypto,” he wrote, acknowledging the broader implications of Ripple’s multiple victories over the SEC for the cryptocurrency industry.
Victory has a thousand fathers, but make no mistake. The courage of Brad and Chris, and the resilience and expertise of Ripple Team Legal (most of whom are nameless and never sought the Twitter spotlight) paved the way. Ripple provided the blueprint to defeat Gary Gensler’s…
— Stuart Alderoty (@s_alderoty) November 23, 2024
The SEC’s War on Crypto
Ripple has been at the center of a protracted legal battle with the SEC since 2020 when the regulator alleged that the sale of XRP constituted an unregistered securities offering.
Ripple consistently refuted the claims, arguing that XRP should not be classified as a security. Over the years, the company secured several critical victories in court, strengthening its position and garnering support from the crypto community.
Alderoty’s post is timely, as Gensler recently announced his intention to step down ahead of the incoming administration of President-elect Donald Trump, which is expected to appoint a new SEC chair in January.
Speculation has mounted that a pro-crypto chair could settle or dismiss many of the lawsuits initiated during Gensler’s tenure, including the case against Ripple, and insiders have revealed that Trump plans to appoint a crypto-friendly successor.
A new SEC Chair with a more favorable stance toward digital assets will enable the cryptocurrency industry to move forward with greater regulatory clarity.
A Bright Future Ahead for XRP
The impact of these developments has been evident in the performance of XRP, Ripple’s native token. XRP recently surged to a multi-year high of $1.62 and currently trades at $1.45, representing a 35% gain over the past week.
After years of fighting the SEC, the crypto world has emerged, and can now innovate freely and advance global finance. Alderoty wrote, “The faith and support of the XRP Army provided much-needed hope in the darkest days. Thank you.” Ripple, XRP, and the community are about to enter a new phase and the digital asset’s future is brighter than ever.
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