Over the weekend, the crypto community, particularly the XRP community, was rocked with heavy arguments, fueled by renowned Fox Business correspondent, Charles Gasparino. The back and forth was focused on Judge Analisa Torres\u2019s ruling on XRP sales and disclosure standards, both for retail and institutional investors.<\/p>\n
Gasparino\u2019s comments evoked a lot of backlash from XRP community members as they accused him of biased reporting and allegedly wanting Ripple<\/strong><\/a> to lose the case against the SEC. As the next key date in the court saga, January 15, approaches, investors and pundits are eager for the next\u00a0play.<\/p>\n In a post on X<\/strong><\/a>, Gasparino went on about how Judge Torres\u2019s ruling sets a double standard for disclosure. In his argument, he called the ruling \u201cdumb,\u201d noting that the judgment promotes lower disclosure standards for retail investors as opposed to institutions.<\/p>\n Read Also: <\/strong>Ripple and SEC Legal Dispute: A Big Conspiracy? See\u00a0This<\/strong><\/a><\/p>\n Moreover, Gasparino opined that the ruling might be overturned if the SEC chooses to continue with the lawsuit under new leadership in the Trump administration. Gasparino made the post in response to a troll who accused him of losing credibility after his appearance on a podcast with Anthony Pompliano.<\/p>\n In the podcast, Gasparino reminded the XRP community how he was the first to report the SEC\u2019s regulatory overreach in its fight against Ripple, adding that it was he and his colleague, Eleanor Terret, that brought the angle to light. Gasparino pointed to the \u201cstupidity\u201d of the case emphasizing the conflicting ruling by Judge Torres. He\u00a0said,<\/p>\n \u201cThen they get this moron judge who says the retail investors don\u2019t need the disclosure, but they should have disclosed it to the institutions\u201d\u00a0\u2026 \u201cthis idiotic judge didn\u2019t even know that she established presedence that there should be less disclosure for\u00a0retail.\u201d<\/p>\n His comments quickly attracted a wave of backlash from the XRP community who has always expressed their concerns about his stance in the court\u00a0saga.<\/p>\n Prominent lawyer and XRP advocate, Bill Morgan, wrote a lengthy post on X responding to Gasparino\u2019s statement. Morgan debunked<\/strong><\/a> the assumption that Judge Torres established a lower disclosure standard for\u00a0retail.<\/p>\n \u201cThere would be no different disclosure outcome if the Judge had found institutional sales were not investment contracts,\u201d he\u00a0said.<\/p>\n Morgan noted that the ruling didn\u2019t even apply to other secondary market sales adding that \u201cthe need for securities level disclosure only arises if programmatic sales are investment contracts.\u201d Moreover, Morgan stressed that if Ripple wins its appeal<\/strong><\/a>, then there would be no more concern about a double disclosure standard as pointed out by Gasparino.<\/p>\n \u201cNo securities disclosure will be required for any Ripple XRP sales in that event because no sales will be securities,\u201d he\u00a0said.<\/p>\n Gasparino took the argument to another level after he took a direct jab at the XRP community. Responding to another troll who suggested that the XRP army came too hard for him, Gasparino stated that there is \u201cno XRP\u00a0army.\u201d<\/p>\n He asserted<\/strong><\/a> that the so-called XRP army is just a bunch of investors who made insiders rich by buying into the XRP coins and are waiting for their payday when they would be rewarded in the form of a price\u00a0surge.<\/p>\n It is important to note that this is not the first time that Gasparino has taken shots at the XRP community. In fact, in 2023, he referred to the XRP community as a \u201ccult,\u201d and also reported that Ripple lost its case against the SEC even though a federal court declared XRP as non-security.<\/p>\n Meanwhile, the price of XRP<\/strong><\/a> responded negatively to the back and forth. Amid the social media saga, the Ripple-backed cryptocurrency plummeted significantly, falling as low as $2 before rebounding to its current price of\u00a0$2.1.<\/p>\n Gasparino also noted how XRP\u2019s price always declines each time he gets trolled by an XRP soldier (investor in the XRP army). In a separate tweet, he shared a screenshot<\/strong><\/a> of the XRP chart in a visible decline adding that maybe this happens because he reminds them (XRP investors) that they only make insiders rich when \u201cthey are forced to pump the coin on Twitter,\u201d reflecting on the highly speculative nature of the\u00a0coin.<\/p>\n Nevertheless, Gasparino has gone on a reply spree, responding to several jabs targeted at him from the XRP community. He clearly states that their opinion won\u2019t prevent him from his job as a reporter and that he will only tell it as he sees\u00a0it.<\/p>\n Read Also: <\/strong>Ripple vs. SEC Case to Continue, Atkins Unlikely to Dismiss the\u00a0Lawsuit<\/strong><\/a><\/p>\n Originally published at <\/em>https:\/\/36crypto.com<\/em><\/a> on December 30,\u00a02024.<\/em><\/p>\n Here are the Latest Arguments in the Ripple vs SEC Lawsuit that Shook the XRP Community<\/a> was originally published in Coinmonks<\/a> on Medium, where people are continuing the conversation by highlighting and responding to this story.<\/p>","protected":false},"excerpt":{"rendered":" Over the weekend, the crypto community, particularly the XRP community, was rocked with heavy arguments, fueled by renowned Fox Business correspondent, Charles Gasparino. The back and forth was focused on Judge Analisa Torres\u2019s ruling on XRP sales and disclosure standards, both for retail and institutional investors. Gasparino\u2019s comments evoked a lot of backlash from XRP […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-32252","post","type-post","status-publish","format-standard","hentry","category-interesting"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/32252"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32252"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/32252\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Gasparino Calls Judge Torres \u201cMoron\u201d and \u201cIdiotic\u201d<\/h3>\n
Bill Morgan Joins\u00a0Argument<\/h3>\n
Gasparino Attacks XRP Community, Says \u201cNo\u00a0Army\u201d<\/h3>\n
XRP\u2019s Price Nosedives Following Controversy<\/h3>\n