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Summary Judgement (XRP the token itself is not a security)


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..and don't meet the first prong of Howey. That's about $600 million. Ripple wins. 4. She does not adopt the "investment contracts require a contract" test (although in a weird way she does). Ripple loses that. 5. She does not allow the FND to proceed to trial. Ripple loses.

6. As expected, the individual Defendant's issues will go to trial. 7. She does NOT address secondary markets sales but, per this Order, MOST OF THE XRP OUT IN THE WORLD ARE NOT SECURITIES. And so, with a fungible token, it's not logically possible....

...that any one XRP token is inherently a security. Therefore, secondary market sales are not unlawful sales (tell me if you disagree).

In Conclusion, congratulations to you. Ripple will appeal (probably). But it will absolutely survive. This is what I love about the law. The Judge arrived about where we thought and hoped, but she took a different route than expected. Thanks for going on this journey with me!

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  • HAL1000 changed the title to Summary Judgement (XRP the token itself is not a security)
Posted (edited)

Huge Congratulations are in order to a lot of people who fought this long hard battle against the SEC. 1.





for refusing to give the bully their lunch money. It is impossible for people who haven't been through something like this to fully understand the psychological toll it takes. 2. Ripple General Counsel


for resolutely coordinating the defense. 3. All of the Lawyers for the defendants,




. This is a landmark ruling and a career capping achievement. 4.


fighting in the trenches (without pay) for the #XRPArmy all the way. Makes his fellow Marines proud. Devil Dog, through and through. 5. Brad Kimes


for never giving up, never losing his enthusiasm. 6. And many, many more in the #XRPCommunity who proved they would never give up even when they had no allies in the greater crypto community.

Edited by HAL1000
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