Ripple CEO thinks they have been treated unfairly by the SEC, and this has given Ethereum an unfair advantage. This has some sense to it because XRP was doing pretty good before the SEC case and now they are lagging much behind. But we should note that ETH has always been in another league when compared to other altcoins. Let’s see if XRP is able to come out of this mess and get back towards the top of the table.
Ripple on SEC
According to the CEO of the company, the SEC has given Ethereum the regulatory green light to become the 2nd largest coin. Their claim is that XRP is unregistered security but Ethereum is not. And the company is questioning what has made SEC conclude the same. But as usual, there are no answers from the authorities. A former SEC official even said in 2018 that Ethereum is not a security. And the court has given them permission to depose the official. If there is some specific logic whether a coin/token is security or not, the companies and the public should know about it.
Ethereum surpasses XRP
According to the Ripple CEO “Within the last few years, XRP was the second most valuable digital asset. As it became clear the SEC had given a hall pass to ETH, ETH obviously has kind of exploded and that clarity has helped.” And this position was held by the token in December 2017. But since then, other tokens continued to surpass XRP and ETH maintained the 2nd position.
This has also resulted in over 50,000 investors trying to sue the SEC because their lawsuit resulted in the XRP’s value falling. And because there is no clear logic to this case, it makes sense that investors are infuriated with SEC’s actions. It will be a matter of time before we see some proper action on this lawsuit and one of either side winning the case. I hope that a clear statement regarding what a security is and on what basis XRP was considered one but ETH was not is released.
What are your thoughts on the fact that Ripple CEO thinks they have been treated unfairly? And do you think that the SEC has actually favored ETH over XRP? Let us know in the comments below. Also, if you found our content informative do like and share it with your friends.