Crypto Dad’s Epic Comeback: Ripple’s Win Shakes the SEC!

by

In a twist that could only be described as a plot twist worthy of a particularly imaginative novel, former CFTC Chair Christopher Giancarlo, affectionately dubbed “Crypto Dad” (because who doesn’t want a dad who dabbles in digital currencies?), is feeling rather smug after Ripple‘s triumphant victory over the U.S. Securities and Exchange Commission (SEC). 🎉

“I did indeed call the XRP Ledger as I saw it and, what do you know, so does the law,” he proclaimed on social media, probably while sipping a cup of coffee that was far too strong for a Tuesday morning. ☕

Now, let’s rewind to 2020, a time when people were still trying to figure out how to pronounce “cryptocurrency” without sounding like they were choking on a particularly stubborn piece of toast. Giancarlo, in a moment of sheer brilliance (or perhaps madness), declared that XRP was not a security. He even co-authored a paper with commodities lawyer Conrad Bahlke, arguing that the Ripple-linked token should be classified as a currency. A bold move, considering the SEC was about to throw a legal tantrum of epic proportions. 🥳

Of course, many skeptics waved their hands dismissively, claiming Giancarlo’s assessment was as reliable as a weather forecast in the Discworld. After all, his firm was providing counsel to Ripple, and the report was based on information from the company itself—because who doesn’t trust a company to be completely honest about its own affairs? 🙄

Fast forward through a grueling legal battle that could have made for a riveting courtroom drama (complete with dramatic music and slow-motion shots), and the SEC has now decided to withdraw its appeal. It’s like watching a cat finally decide that the box it’s been avoiding is, in fact, the best place to be. 🐱📦

Stuart Alderoty, Ripple’s chief legal officer, took a moment to thank Giancarlo for his unwavering support. “Five years ago, while many were rooting against us, even those who stood by us chose to do so silently. You were smart and brave enough to call it as you saw it. Thank you,” he said, probably with a hint of misty-eyed nostalgia for the days when they were the underdogs in a world of financial giants. 🥺

Read More

2025-03-20 11:18