Hold onto your digital hats, folks! Washington-based non-profit Better Markets, a guardian of “public interests” in financial markets, has just dived headfirst into the SEC vs. Ripple tussle. Why, you ask? Because the court’s definition of an “investment contract” has shrunk faster than your favorite crypto’s value on a bad day!
Better Markets filed an amicus brief, warning that this narrow definition could put a “huge number of everyday American investors” at risk. Imagine a wild west of crypto, where the SEC can’t protect investors from “widespread predations.” Yee-haw!
Better Markets CEO Dennis Kelleher previously gave the SEC a 90% chance of winning the appeal. But let’s not forget his epic takedown of crypto as a “lawless industry” during a Bloomberg interview. According to Kelleher, crypto’s motto is, “Catch me if you can!”
So, buckle up, crypto enthusiasts! This rollercoaster is far from over!
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2025-01-23 09:44