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New Order in SEC vs. Ripple Over XRP Is a Win for Crypto: What Happens Now? - Ep. 518
Unchained
The Differences Between Primary and Secondary Sales in XRP Tokens
The vast majority of those persons who bought that did not invest their money in Ripple at all. She concludes a secondary market transaction in a token like XRP is not inherently a securities transaction, even if those same tokens had been sold in investment contract transactions to others. One could read this as a fundamental rejection of the morphing concept,. The idea that a token starts off its life as a security and then later upon some extrinsic events, people refer to it as centralization, it stops being a security.
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