SEC charges Ripple and two executives with conducting $1.3 billion unregistered

[Febo]

https://twitter.com/SEC_News/status/1341477833810522114

Press Release SEC Charges Ripple and Two Executives with Conducting $1.3 Billion

https://www.sec.gov/news/press-release/2020-338


It took them so long but after so many years the biggest scammers in crypto will finally pay their debts.

[BigBoy89]

https://twitter.com/SEC_News/status/1341477833810522114

Press Release SEC Charges Ripple and Two Executives with Conducting $1.3 Billion

https://www.sec.gov/news/press-release/2020-338


It took them so long but after so many years the biggest scammers in crypto will finally pay their debts.

Interesting... I don't like Ripple but I hope that this will not drag down the other coins too.

IMO they deserve the charges. Ripple is not real crypto anyway. It's close to 40 cents now and we could see it under 20c!

[cryptoaddictchie]

Interesting... I don't like Ripple but I hope that this will not drag down the other coins too.

IMO they deserve the charges. Ripple is not real crypto anyway. It's close to 40 cents now and we could see it under 20c!

Even you Dont like Ripple. News like this could likely pull other cryptocurrency such as bitcoin and eth, the xrp has a great impact on market price when crashes especially with a news like this. Panic button are probably already on the hoops. The price above 40cent is due to their Snapshot airdrop and now its done, I don't think people still can cling on holding when there is a fud like this happening.

I think its inevitable event to occur that Sec will pursue them since there are no clarity with their platform and coin usage. Literally they can make a platform without their tokens. So I assumed their gonna be heavy questioned about it.

[JaoBadjap]

Another Bad Image that probably would affect the Whole Crypto Community and Cryptocurrency Image.
This past years, a lot of scheme to scam uses crypto as its front. and this could really hurt the image of crypto.
i hope it doesnt

[amishmanish]

The top comments on those twitter posts are already people whining about "Ohh but you let us buy it for years without saying". Well, the saner voices had always been telling you that its a scam. There was zero distribution of this copycat coin. They simply gave all of the pre-mine to themselves and let the price be piggybacked by retail investors.

Also, note that the SEC is calling it an "ongoing digital assets securities offering". Ongoing because all that Garlinghouse and his buddies do is sell those XRP slowly into the market (55 billion of which they still have). They use these funds to attract banks as partners showcasing their "technology". Their "technology" is essentially just a few servers running a private blockchain.

XRP is just the biggest of these pre-mined abominations that have flooded the space post ICO boom-bust. XRP is particularly irresponsible because they have carried the facade of doing important work for so many years while doing little else than going to party dinners and playing with the money they gave themselves.

[BigBoy89]

Interesting... I don't like Ripple but I hope that this will not drag down the other coins too.

IMO they deserve the charges. Ripple is not real crypto anyway. It's close to 40 cents now and we could see it under 20c!

Even you Dont like Ripple. News like this could likely pull other cryptocurrency such as bitcoin and eth, the xrp has a great impact on market price when crashes especially with a news like this. Panic button are probably already on the hoops. The price above 40cent is due to their Snapshot airdrop and now its done, I don't think people still can cling on holding when there is a fud like this happening.

I think its inevitable event to occur that Sec will pursue them since there are no clarity with their platform and coin usage. Literally they can make a platform without their tokens. So I assumed their gonna be heavy questioned about it.

That's what I don't like about news like this - that this could drag down other (legit) cryptos down.

But I just shorted Ripped at Bitmex on the March 26th Contract with 2x leverage. At least I will make some money if it goes down!

[kidbounty]

dumps time ....
sell immediately or you'll be holding XRP for a long time. this news will stop Ripple's attempts to climb higher. so holding will only make you lose. Better sell, look at current prices, I think the dump has started.

[sulis sudibyo]

Ripple is the worst coin, and it's a fact everyone knows about it. I hope this lawsuit wins by the SEC, this will be a lesson for Ripple not to be too greedy. and this news will stop the positive trend of ripple. I have a little sympathy for those who just bought yesterday. this will be a loss at the end of the year.

[poodle63]

So whats gonna happen then? will XRP flop or they still have a chance to sort it out? At this point I don't think making fortune from XRP dump and expecting it to go back up is viable considering it could just vanish anytime right now.
The fact that the people behind XRP keeps dumping it to the market like there's no tomorrow is already a huge red flag but people keeps bagholding this anyway and this thing right here gonna cause so much people losing money.

[mindrust]

Same thing will probably happen to Tether too so be careful.

A sad day for the R.i.p.ple holders. On its way to zero.

[eucalyptus]

After SEC lawsuit some exchanges delisted XRP. Maybe they don't want to have trouble or they are running viral Ads. But we see a big FUD on XRP. We will see what is going to happen.
Many projects did the same. If there will be a bad news after lawsuit about XRP, we can expect in all other altcoins also. We should be careful guys.

[yazher]

https://twitter.com/SEC_News/status/1341477833810522114

Press Release SEC Charges Ripple and Two Executives with Conducting $1.3 Billion

https://www.sec.gov/news/press-release/2020-338


It took them so long but after so many years the biggest scammers in crypto will finally pay their debts.

Oh my God! that was close, thankfully I sold all of my ripples when the price was surging a few weeks ago. That was not a little amount though, that was so close. I mean, I was doubting that the price will still get high after it reaches double the price I invested. with this news, I'm sure those people who currently holding it are starting to panic now. Man, this news is huge it could turn around the price at any moment.

[Tash]

Same thing will probably happen to Tether too so be careful.

A sad day for the R.i.p.ple holders. On its way to zero.

Ripple will manage, not so sure about XRP and Eth2 in simular position, Ethereum will exist but with price correction.
Tether dont matter is not for investment anyway.

[mindrust]

Same thing will probably happen to Tether too so be careful.

A sad day for the R.i.p.ple holders. On its way to zero.

Ripple will manage, not so sure about XRP and Eth2 in simular position, Ethereum will exist but with price correction.
Tether dont matter is not for investment anyway.

Tether is all that matters for crypto right now. 90% of the trading volume comes from the USDT/*** pairs. Almost nobody is trading their the real dollars for crypto and we don't know how much of those USDT is backed by the real thing.

Tether's collapse would be the next Gox of Crypto.

[Febo]

https://twitter.com/SEC_News/status/1341477833810522114

Press Release SEC Charges Ripple and Two Executives with Conducting $1.3 Billion

https://www.sec.gov/news/press-release/2020-338


It took them so long but after so many years the biggest scammers in crypto will finally pay their debts.

Interesting... I don't like Ripple but I hope that this will not drag down the other coins too.

IMO they deserve the charges. Ripple is not real crypto anyway. It's close to 40 cents now and we could see it under 20c!

This is how Crypto exchanges rated some crypto projects a year ago. In a scale of 1-5 if they are securities or not.

https://twitter.com/TheBlock__/status/1178622287538524165

Maker and Polymath are even higher on list than Ripple.  Bitcoin, Monero and Litecoin are of course nothing like a security.

[DrBeer]

I will assume that this is the "first bell". During the investigation, I am sure that many more interesting, but illegal or not entirely legal actions will emerge. In order not to destroy the project - the best way to make a deal with the investigation, reveal all the cards, get the punishment they deserve, and divert problems from the rest of the project. But let's look at the development of the situation

[takngantuk]

ripple is destroyed now. there is no second chance to go up. maybe next year we will see the price below 0.2$. This news has a big impact on the price of XRP. I don't see Ripple getting out of this suit, even if Ripple gets punished and pays dendan, the price won't go up again.

[btc78]

https://twitter.com/SEC_News/status/1341477833810522114

Press Release SEC Charges Ripple and Two Executives with Conducting $1.3 Billion

https://www.sec.gov/news/press-release/2020-338


It took them so long but after so many years the biggest scammers in crypto will finally pay their debts.

i have looking for the reason  whyXRP suddenly fall like that while bitcoin and Ethereum has no same movement .

Now i know and same as why market goes with the downtrend ,as the investors keep safe their funds first ,but assumingly this will continue ,may XRP drops to 10 cents?

[RealMalatesta]

By the looks of it this is as serious as it gets, because they are dealing with other banks and so forth to stay alive and if they are under investigation and they can't make the deals or their contracts are voided, that means they will bankrupt for sure. What do you think they will do to pay everything? Just take out from their own bank accounts and pay that?

There is no way any cost coming out of their own pockets, obviously they are going to cash out all of their XRP to pay, and they will print more as much as they can to pay more as well. Be ready for XRP going under 10 cents as well, I have always said that these guys were bad people and nobody believed me, I said centralized currency already existed with fiat and nobody cared that XRP was just like fiat. Look what is going on now, I am glad that this happened, I hope XRP price goes under 1 cents.

[zeingrind777]

This is a massive dump for ripple holders. I think people who are still holding Ripple today will be waiting a very long time for price increases to return. I am grateful not to buy and hold ripple coins because for me ripple doesn't have a decentralized crypto ideology