{"id":612244,"date":"2023-02-27T04:52:07","date_gmt":"2023-02-27T10:52:07","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/02\/27\/ripple-vs-sec-crypto-exec-sounds-alarm-for-ripple-no-chance-of-winning-against-sec\/"},"modified":"2023-02-27T04:52:07","modified_gmt":"2023-02-27T10:52:07","slug":"ripple-vs-sec-crypto-exec-sounds-alarm-for-ripple-no-chance-of-winning-against-sec","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/02\/27\/ripple-vs-sec-crypto-exec-sounds-alarm-for-ripple-no-chance-of-winning-against-sec\/","title":{"rendered":"Ripple Vs SEC: Crypto Exec Sounds Alarm for Ripple: No Chance of Winning Against SEC"},"content":{"rendered":"
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As Ripple\u2019s legal battle with the U.S. Securities and Exchange Commission (SEC) continues, Gene Hoffman, president of the Chia Network, has expressed his lack of confidence in the company\u2019s ability to win the case. In a Twitter thread, Hoffman stated that Ripple made a mistake by selling XRP before registering Ripple stock and that this would be a key factor in their defeat.<\/p>\n

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XCH is not a security. We\u2019re going in to register Chia equity. Which is the obvious way to be legal that everyone else just doesn\u2019t want to do.<\/p>\n

\u2014 Gene Hoffman hoffmang.xch ???? (@hoffmang) February 27, 2023<\/a><\/p><\/blockquote><\/div>\n<\/figure>\n

Hoffman responded to a Twitter user\u2019s sarcastic comment about Chia\u2019s superiority to Bitcoin in response to SEC Chair Gary Gensler\u2019s recent statement that all cryptocurrencies apart from Bitcoin are securities. Hoffman clarified that Chia\u2019s token, XCH, is not a security and that the company plans to register Chia equity to ensure legality.<\/p>\n

SEC Arguments Against Ripple<\/strong><\/h2>\n
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No, the SEC is saying that when Ripple sold XRP without a registration statement that was either an investment contract or a securities scheme \u2013 both clearly covered by the \u201833 and \u201834 Act. I wouldn\u2019t be surprised if they prevail that after that sin, 2ndry sales remain securities<\/p>\n

\u2014 Gene Hoffman hoffmang.xch ???? (@hoffmang) February 27, 2023<\/a><\/p><\/blockquote><\/div>\n<\/figure>\n

Matt Hamilton, Ripple\u2019s former director of developer relations, pointed out that registering equity did not stop the SEC from going after Ripple<\/a>. He warned Hoffman to keep a close eye on the Ripple case, as the SEC is trying to argue that secondary market sales can also be securities. However, Hoffman stated that the Chia company owns XCH but has never sold any tokens, and all the trading of XCH has been \u201cfrom farmers farming.\u201d<\/p>\n

Ripple has been locked in a legal battle with the SEC since December 2020, when the regulator filed a lawsuit accusing Ripple and its executives of selling unregistered securities in the form of XRP. The company has vehemently denied the charges, and the legal proceedings have had little to no effect on XRP\u2019s market value.<\/p>\n

XRP Price<\/h2>\n

On Sunday, XRP Price<\/a> rose by 0.02% but ended the week down 2.11% to $0.37794. After a range-bound morning session, XRP fell to a late afternoon low of $0.37500. Although it rose to a late high of $0.38055, it came up short of the First Major Resistance Level (R1) at $0.3816 and fell back to end the day at sub-$0.38. At press time, XRP is worth $0.376.<\/p>\n<\/div>\n

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\n Sohrab Khawas<\/p>\n","protected":false},"excerpt":{"rendered":"

As Ripple\u2019s legal battle with the U.S. Securities and Exchange Commission (SEC) continues, Gene Hoffman, president of the Chia Network, has expressed his lack of confidence in the company\u2019s ability to win the case. In a Twitter thread, Hoffman stated that Ripple made a mistake by selling XRP before registering Ripple stock and that this<\/p>\n","protected":false},"author":1,"featured_media":612245,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22791,25213],"tags":[],"class_list":{"0":"post-612244","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto","8":"category-ripple"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/612244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=612244"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/612244\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/612245"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=612244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=612244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=612244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}