The post Ripple CTO: Judge’s Ruling Favors XRP, Despite Overlooking Ripple’s Legal Theories appeared first on Coinpedia Fintech News
In a surprising courtroom twist, Ripple and its team of legal allies, despite not having their theories adopted, still came out on the positive side of Judge Torres’ recent XRP ruling. While the judge didn’t seem to dance to the beat of Ripple’s arguments, the overall rhythm of the ruling was in harmony with Ripple’s belief that “tokens are not intrinsically securities.“
The Legal Choreography
Gabriel Shapiro, General Counsel at Delphi Labs, took to the social media stage to laud Ripple’s collaborative troupe, especially the legal maestros who worked in tandem with the renowned attorney, Lewis Cohen. Their stellar performance was instrumental in influencing Judge Torres’ final verdict. However, the judge performed her own legal ballet, departing from the choreographed legal theories presented by Ripple and its backers.
The Unforeseen Twist
According to Shapiro’s critique, Judge Torres turned the tables by not following the “predicate contract” theory put forth by Ripple and its partners. Instead, she put the spotlight on the link between an “investment of money” and “efforts” in the Howey test, a twist that was not a part of the original script delivered by the defending parties.
Ripple CTO’s Encore
In a follow-up act, David Schwartz, Ripple’s Chief Technology Officer, took centre stage and acknowledged Shapiro’s review. He confirmed that Ripple’s choreographed legal arguments didn’t command the spotlight in the ruling. Schwartz also highlighted Ripple’s determination to pursue legal theories, even those with lower chances of success.
The judge’s decision, while not the exact performance Ripple intended, still echoed their primary assertion that XRP is not inherently a security. This favorable outcome prompted a standing ovation from Ripple, its legal ensemble, and the crypto community, all celebrating the broader implications for crypto regulation in the United States.
The ruling has triggered a buzz about Ripple potentially taking a bow on the public stage with an Initial Public Offering (IPO). This encore performance has just added another layer of intrigue to Ripple’s riveting legal drama.