Ripple CTO’s Cryptic Tweet About SEC Lawsuit Has Left Users Embezzled
Founder and managing member of Dizer Capital Yassin Mobarak turned to social media and joined a thoughtful discussion regarding the SEC and ripple. But Mobarak questioned what the officer actually meant after reading Ripple’s CTO’s most recent tweet.
Ripple’s chief technology officer and co-creator of XRP Ledger, David Schwartz took to Twitter and wrote, “Yeah, I think that’s fair to say. I hope we don’t get into a position where we’re tempted to walk through a door and slam it shut behind us. But, of course, I can’t promise we won’t.”
There are two probable meanings for the phrase “we’re tempted to walk through a door and slam it shut behind us,” according to Yassin Mobarak.
A Twitter user started a conversation on February 21 by responding to a recent tweet from Stuart Alderoty, the chief legal officer of Ripple. The latter hinted that if the current judge supported the SEC, Ripple would take the matter to the U.S. Supreme Court.
According to Mr. Huber, Alderoty was using threats to pressure SEC head Gary Gensler into accepting Ripple’s terms and conditions. The leading fintech company would get “a unique advantage and clarity over all others” as a result. If not, according to Mr. Huber, Alderoty means that by defeating the SEC in the Supreme Court, Ripple “will take away his jurisdiction over cryptocurrency.”
Talking about how important the win is for the whole industry, David said, “The thing is, we can’t succeed if the industry doesn’t succeed. A world where, say, Twitter is the only successful Internet company is unimaginable. I expect we will always prefer wins for everyone in the space if we can.”
Authorities have been closely monitoring the cryptocurrency market for a while now. They have been adjusting the rules already in place to take into account the shifting market conditions and to safeguard investors.