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Why weren't Jed and Arthur Britto named in the SEC's suit?


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24 minutes ago, brianwalden said:

It appears to me that the initial distribution of 20% of XRP to the three founders is a big part of the reason the SEC thinks it was sold as a security. So why were Jed and Arthur left out of the suit? Jed has obviously sold a lot of XRP and Arthur seems to be a mystery.

Jed never sold while he was an employee or board member. Arthur because he never has been selling XRP perhaps (nothing wrong with just holding I suppose) ?

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29 minutes ago, kanaas said:

Jed never sold while he was an employee or board member. Arthur because he never has been selling XRP perhaps (nothing wrong with just holding I suppose) ?

I am not familiar with Arthur, but that is what I would expect.  The SEC typically doesn't care to pursue people who just hold assets or securities.  It is when they sell, that they open up opportunities for potentially violating security and investment contract laws.

If Ripple, Chris, and Brad never sold XRP and just held, the SEC wouldn't have been able to file a valid lawsuit against them.  But, lack of clarity of when and how they can sell probably would have dragged on for at least another 5 years.

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16 hours ago, kanaas said:

Jed never sold while he was an employee or board member. Arthur because he never has been selling XRP perhaps (nothing wrong with just holding I suppose) ?

And they didn't mix funds into Ripple market making.

Plus I don't think (AFAIK?) they publicly stated how endlessly bullish they were while simultaneously selling into retail... 

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1 minute ago, brianwalden said:

I think he's real, he just prefers to stay in the shadows, but I really can't say with certainty.

Yeah and can you blame him with all the heat it brings?!

Satoshi (whoever he/she/it is) made the right decision; stay the hell out of the spotlight. 

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You can't prosecute someone on financial intent typically, but did hear that Jed tried to dump his entire stash of 9 billion all at once before the Ripple board took legal action against him; he can only sell so much per month until it's all gone.

If anyone is using XRP as a cashcow dumping scheme, it's Jed. When all is said and done he's probably made close to $2-3 billion in dumping XRP; dca of like $0.25/XRP hypothetically. People complain about BG & CL's $600 million or whatever it was, pffft, Jed has sold 2-3x that.

If there's anyone to be mad at, it's Jed, single-handedly trying to crush investors with his massive dumps, still being allowed to profit off his private sales of a 'security', while basically offering nothing to the project except horrible idea after horrible idea. 

"But XRP was Jed's ideaa, he deserves it all". Boo-hoo, so was Mt. Gox, and he slithered away from that too scot-free. See a pattern forming?

Kinda sucks we as a community have to pay him off with $2 billion, I'm sure he's laughing from his mega-yacht. 

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5 hours ago, brianwalden said:

Dude, I was there. I was a total crypto newb. I had only been into XRP for a week or two. My young daughter had woken me up in the middle of the night, and when I got back into bed I checked the old XRPTalk forum. Jed had just made a post that he was leaving Ripple and selling all his XRP. He signed it with a PGP signature and sent an XRP payment to one of the respected forum members to prove it was him. I was terrified of having to explain to my wife that I had lost my huge investment of $100 that I never told her about. I sold all my XRP (for good old USD.SnapSwap) - back then we'd trade right on the ledger, if you can believe it. The price tanked, but there just wasn't enough volume for Jed to actually dump tons of XRP. There were guys who caught the knife and I think we're able to buy as low as like $0.0018 or something like that. I wasn't that brave, I waited for the price to stabilize before I bought back in, and made out ok but nothing to write home about. Then Ripple eventually worked out the deal with him. Honestly, if they knew they'd be where they are now, they probably would have just let him dump it all and get it over with. Because of the agreement he gets to sell XRP for a fraction of a dollar instead of a fraction of a cent.

Long before my time in crypto but r-e-s-p-e-c-t for hanging on after the most epic FUD of all time.  This must have been long before BG built out Ripple to be what it is today, much, much more uncertain at that time.  Part of the reason I got into XRP was because of Ripple's effort, aside from the minerless tech. And OMFGD $0.0018/XRP...I'd die to have had a shot at those prices...I'd have literally millions of XRP today.

I've never met Jed but you can tell what kind of person he is by his actions. I laughed at the SEC lawsuit and bought the dip just out of spite. I might never sell now that SBI VC is allowing XRP owners to loan XRP to their network for a 0.1% return. 100 XRP a year on 10,000 locked in for 12 months doesn't sound like a lot until XRP is like $125 a pop, then it's $12,500 a year. They ain't making any more of it and SBI et al NEED it to run their businesses now and in the future. More and more XRP is a buy+hold in my book.

That's how we stick it to people like Jed and the SEC, we make it work despite them.

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1 hour ago, pucksterpete said:

$0.005 wasn't too bad :)

:blink::o I'll take $5k of $0.005/XRP please. Yes Sir, may I please have another, sir?

To think at one point you could get a million XRP for less than a long night at a strip club... Now it costs you half a mil. and we ain't even on the moon yet.

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