XRP token holders have become a key factor in helping Ripple Labs win the lawsuit against the U.S. securities regulator. The case was ultimately concluded last month after both parties agreed to withdraw their appeals.
The SEC sued Ripple Labs in 2020, accusing it of selling XRP as an unregistered security. Judge Analisa Torres ruled in 2023 that only a portion of the tokens could be considered securities. The case was finally resolved in August of this year.
With the case settled, crypto advocate and lawyer John Deaton stated, "No credible person can deny that the 'XRP community' indeed played a role."
According to his statement on platform X, "If someone says otherwise, they are either completely ignorant of the facts and truth or are intentionally lying. We have conclusive evidence that there was indeed an impact."
Deaton is known for actively defending the rights of crypto investors, particularly XRP holders. He believes that these investors were not represented in the SEC's case against XRP.
Deborah McCrimmon, Vice President and Deputy General Counsel of Ripple, stated on Monday's "The Penta Podcast" that Deaton's efforts and the XRP community made the court aware that the case "affected many people," not just XRP itself.
Meanwhile, the unpaid efforts of the XRP community in the case also became crucial for the company to prove its core arguments.
McCrimmon specifically mentioned that Ripple adopted a "fair notice" defense, arguing that the SEC did not provide fair notice regarding the relevant laws and its historical enforcement practices.
"To this end, we were looking for speeches, statements, and remarks from the SEC or the government related to blockchain, cryptocurrency, XRP, and the XRP community, and the XRP community proactively organized this content for us," she said.
Deaton noted that over 2,000 pieces of evidence were submitted in the case. In the final ruling, Judge Torres cited his amicus brief and the affidavits of XRP holders.
"She referenced the affidavits of XRP holders in her ruling and determined that XRP itself is not a security. Without citing these materials, one could easily argue whether our efforts truly made a difference," Deaton stated.
Deaton called on XRP holders to submit affidavits and testimonies. Over the years, the XRP community has actively lobbied, initiated petitions, and coordinated actions on social media to pressure regulators.
In July 2023, Judge Torres issued a comprehensive ruling, determining that tokens sold on public exchanges do not fall under the definition of securities, but tokens sold to institutional investors do constitute unregistered securities.
According to CoinGecko, the price of XRP subsequently rose by 72%, from $0.47 to $0.81.
Before the SEC and XRP both abandoned their appeals and the case officially ended, the token surged again due to market speculation, reaching a high of $3.35 before retreating.
Currently, XRP is trading at $2.85, down about 4% in the past 24 hours. Public data shows that XRP previously reached an all-time high of $3.65 in July.
Related: Bitmine now holds 1.86 million ETH, approximately 1.55% of the total Ethereum supply.
Original article: “Crypto Lawyer Claims: The XRP Community Played a 'Decisive Role' in Ripple's Lawsuit Against the SEC”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
