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4min chapter
The Crypto Founder Who Won a “Landmark Victory” Against the SEC
On with Kara Swisher
Ripple's Victory in the US District Courts Over Cryptocurrency
Ripple was embroiled in a lawsuit with the SEC, which alleged that Ripple's cryptocurrency XRP was illegally sold securities. The US district courts ruling came in less than 48 hours later. A judge actually ruled that look, Ripple had done a ton of sales over a billion dollars worth of sales of XRP. But it said about $728 million, which it made directly to hedge funds, sophisticated, accredited institutional investors do constitute an illegal sale of securities.
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