Lawyer Challenges Charlie Gasparino's Negative Stance on Ripple's Legal Victory Against SECNovember 18, 2023
Bill Morgan, an Australia-based lawyer, has openly criticized Charles Gasparino, a Senior Correspondent at Fox Business, for his negative remarks about the price performance of XRP and the legal outcomes of the Ripple v. SEC case.
Gasparino joined FOX Business Network (FBN) in 2010 as a Senior Correspondent. According to his bio on the Fox Business website, his work has been submitted for the Pulitzer Prize and won the New York Press Club award for best continuing coverage of the Wall Street research scandal.
On November 16, Gasparino expressed his views on X (formerly Twitter), targeting the decision of Judge Analisa Torres in the SEC vs. Ripple Labs lawsuit. He described the July 13th ruling, which granted partial victories to both the SEC and Ripple, as “idiotic,” suggesting that it made the U.S. District Court of the Southern District of New York a subject of ridicule.
Gasparino’s comments were met with significant backlash. For example, John Deaton, the American attorney who is the founder of CryptoLaw, countered by saying:
“The baby was not split. The baby is not a security. Blind bid/ask transactions on an anonymous exchange (vast majority of XRP sales in the case) are not securities under Howey. That’s 75+yrs of case law speaking. What case law are the unnamed laughers at SDNY citing?“
In a subsequent response, Gasparino criticized XRP’s current market performance, implying that its trading status reflected a split entity. He also claimed that no U.S.-based securities lawyer views Judge Torres’ decision as a rational interpretation of securities law.
Attorney Bill Morgan challenged Gasparino’s assertions, pointing out that securities lawyers advising U.S.-based exchanges recommended their clients to relist XRP following the July 13 summary judgment. This advice led to multiple U.S. crypto exchanges, including Coinbase and Kraken, relisting XRP after the court declared that the token is not by itself a security.
Morgan credited Moon Lambo, a well-known XRP YouTuber, for the argument against Gasparino’s critique. He acknowledged that the point was initially made by Moon Lambo in a recent video, which he had listened to, thereby giving credit to the YouTuber for the insight.
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