In an intergalactic collision of bureaucracy and blockchain, former SEC enforcement attorney John Reed Stark casually dropped the mic on the internet by predicting that the U.S. Securities and Exchange Commission (SEC) might soon give up its quixotic quest against Ripple Labs Inc. Stark shared this startling vision of sanity on X (formerly known as Twitter, because apparently renaming platforms is cutting-edge).
Has the SEC Finally Found Its Chill? 🥶
Stark has been keeping a close eye on the SEC’s antics and believes they’re flicking the switch from crypto cop to crypto… consultant? Under its previous fearless leader, Gary “Regulation-is-Life” Gensler, the SEC had slapped Wells Notices on Robinhood, Uniswap, and OpenSea like they were going out of style. It was a golden age of aggressively wagging fingers at anything involving the word blockchain.
But wait! Plot twist! 🎠The SEC—possibly after a long, existential conversation with its office coffee machine—decided to abandon its investigation into Robinhood Crypto. Yes, that’s right, they’ve gone full 180°. This marks a potential shift from life as a professional crypto buzzkill back to… well, no one really knows what their new identity entails.
Stark hints ominously that this could extend to the Ripple affair, leaving Gensler to rage scream into the void.
So This is How the SEC Dies.
The Rapid-Fire Demolition of the SEC Crypto-Enforcement Program Continues. SEC Investigations of Uniswap & OpenSea Officially Closed. Both Firms Had Received Wells Notices Under SEC Chair Gensler. Dropping of the SEC’s Ripple Appeal Next Up for Sure. 🛑
— John Reed Stark (@JohnReedStark) February 26, 2025
In other words, the SEC seems to have collectively decided, “Nah, not today,” leaving the crypto world to speculate wildly while pretending they’ve planned for this all along.
The Coinbase Saga: Close Encounters of the Litigious Kind 👨‍⚖️
On a related note, Coinbase—America’s crypto darling and pro-level courtroom warrior—finally struck a deal with the SEC to dismiss its case. CEO Brian Armstrong practically broke out the victory champagne, saying he feels “vindicated” for dragging this legal soap opera out since 2023. (But let’s be honest, it’s probably not over; there’s always a sequel.)
Analysts are now forecasting that Binance and Ripple Labs might not be far behind the SEC’s collective “meh” attitude. Dare we say… a kinder, cuddlier SEC? Okay, maybe that’s pushing it. But hey, it’s 2025, stranger things have happened—like pineapple on pizza. 🍍🍕
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2025-02-26 19:10