
John E Deaton|Apr 07, 2025 22:58
What a difference four years makes. Around this time, 4 years ago, I was filing a Motion to Intervene into the @Ripple case, asking Judge Torres to allow a putative class of XRP holders to become actual defendants in the case. Most lawyers laughed at my motion, although, tbh, I didn’t blame them or even get mad. It had never been done before. I knew Judge Torres would never force the SEC to sue, at the time, 12,600 XRP holders (which grew to 75K) but man, did it send the right message. Other than sending that message, my real goal was to be appointed amici counsel, with participatory rights, which, in effect, she did. In her summary judgment decision, she ruled “XRP itself is NOT a security”, citing XRP holder Affidavits as one of the reasons for her decision. On two separate occasions,
within her written ruling, Judge Torres cites to the efforts we made (the Affidavits and at footnote 16). And today, this is like the 20th XRP related ETF. Never say you can’t make a difference!
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