• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / The Only Possible Outcome Of Ripple’s Battle Is A Ruling That XRP Is A Security
Ripple

The Only Possible Outcome Of Ripple’s Battle Is A Ruling That XRP Is A Security

December 7, 2022 by Mishal Ali

In a closely followed legal dispute between Ripple and the US SEC, Gene Hoffman, Chief Operating Officer of Chia Network, tweeted on December 6th that he believes the only possible outcome is that a federal judge will rule that XRP was a security due to Ripple’s sale.

The only outcome is that a federal judge will rule that Ripple's sales of XRP made XRP a security.

— Gene Hoffman hoffmang.xch 🌱 (@hoffmang) December 7, 2022

The SEC’s messiness in relation to the Hinman speech, he said, is not something he is justifying. He asserts that it is irrelevant to the MSJ/court issue and that the only situation in which it is relevant is when Ripple should have swiftly informed XRP owners of what he had stated.

This prediction was made in a Twitter spat from December 5th, when Gene claimed that Bill Hinman had informed the Ripple leadership that, in his opinion, XRP would be security, in 2019. Some crypto enthusiasts said that it was “completely irrelevant.” Gene claimed that its sales meet the Howey test.

Did you know that Bill Hinman told Ripple leadership that XRP was a security in his opinion in 2019? Neither did I… Prepare for the post Ripple SEC loss future https://t.co/MmD79MRL5l pic.twitter.com/yykUsTVSfY

— Gene Hoffman hoffmang.xch 🌱 (@hoffmang) December 5, 2022

In response, BRAND, the crypto holder and XRP aficionado, said on December 6th:

XRP is currently used for utility moving billions annually. Also, Ripple already settled a lawsuit with Fincen, who labeled XRP as a currency. The SECs can only hope the judge views early sales as security offerings. There is no outcome where XRP the token has deemed a security.

Is Ripple Token XRP A Security?

Famous XRP lawyer Bill Morgan recently argued that the SEC had reached a deadlock on the matter. The first requirement for Howey, according to the attorney, is a monetary commitment, and the second prerequisite is a common enterprise.

Morgan asserts that the SEC has an issue with common enterprises that it has attempted to conceal by defining the term inexactly. SEC also employs a variety of arguments to equate the words “enterprise” with “effort.”

According to the tweet’s comment section:

It relies on broad vertical commonality rejected in the second circuit. Secondly, it cannot prove pooling required under the Revak decision.

The characteristics of a for-profit business venture that Ripple claims are necessary for a common enterprise are not identified by the SEC. In his perspective, the SEC’s inability to differentiate between Ripple’s ODL company and the XRP is an example of how difficult this is for the SEC to do.

Moreover, where everyone is debating Ripple’s lawsuit. Michael Saylor, a prominent supporter of Bitcoin, is infamous for being uninterested in other currencies like Ethereum and XRP. Saylor recently discussed categorizing such coins as securities in a podcast appearance.

“They’re are committing securities fraud… especially Ethereum.”@saylor gives his thoughts on Ethereum and Rippe pic.twitter.com/STsuLX5FQh

— PBD Podcast (@PBDsPodcast) December 6, 2022

Saylor stated his opinion that XRP is an unregistered security in relation to the legal dispute between Ripple Labs and the SEC.

Related Reading | Bitcoin And Ethereum ETFs Filed By Hong Kong’s Three AUMs

Filed Under: News, Altcoin News Tagged With: Ethereum (ETH), Howey test, Ripple (XRP), SEC

Primary Sidebar

Recent Posts

  • Ethereum Eyes $3,000 After Testing Critical Wyckoff Resistance Zone June 19, 2025
  • Best Crypto Casinos Canada: 5 Most Trusted Canadian Casino Sites For Gamblers (Exclusive Bonuses) June 19, 2025
  • Dogecoin Triggers Rare Bearish MACD Crossover; Eyes Drop to $0.12 June 19, 2025
  • Trump Cryptocurrency Discussions Focus on Regulation, Bitcoin Solaris Focuses on Making TRON-Level Returns June 19, 2025
  • Nobitex Breach: Iran Limits Crypto Exchange Hours After $100 Million Hack June 19, 2025

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2025 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.