What Happened After Ripple’s Historic Win Against the SEC? $10 Million Invested in XRP? – Coinpedia Fintech News
October 26, 2023In a recent interview, Ray Fuentes, the Community Director at Linqto, opened up about the impact of the recent legal ruling in favor of Ripple and the classification of XRP as a non-security. This development has significantly increased the demand for Ripple’s equity on the Linqto platform.
Talking to the host of Thinking Crypto, Fuentes stated that since the ruling, there has been a noticeable surge in demand for Ripple equity, which has been available on the Linqto platform. He highlighted the growing interest in Ripple and attributed it to the legal clarity surrounding XRP’s non-security status. Fuentes noted that this clarity positions XRP as the only digital asset in the USA with legal certainty, as the SEC cannot appeal the decision.
On July 13, 2023, Judge Analisa Torres in New York ruled in the SEC v. Ripple Labs, Inc. case. The SEC accused Ripple Labs of selling unregistered securities to investors. Ripple argued that its cryptocurrency, XRP, shouldn’t be considered a security because it didn’t meet the criteria for an investment contract under the Howey test.
He also shared that the platform has experienced a substantial increase in investments, with an additional $10 million invested in Ripple alone since the ruling. Linqto’s website has grown in total member investments from $285 million to over $293 million since the Ripple ruling.
In conclusion, Linqto’s platform is seeing a surge in demand for Ripple equity. It is poised for growth, with plans to expand into decentralized exchange operations and tokenized assets. The recent legal clarity surrounding XRP and the broader interest in emerging technologies position Linqto as a critical player in the evolving landscape of modern finance.
Fuentes also briefly discussed the potential approval of a Bitcoin exchange-traded fund (ETF). While he couldn’t predict the exact timeframe for approval, he expressed hope for regulatory progress and suggested that 2024 could be a significant year for such developments.
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