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Ripple Lawsuit: Messari CEO Backs Ripple to Beat SEC Despite Being Former Critic

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Wed, 22/03/2023 - 8:52
Ripple Lawsuit: Messari CEO Backs Ripple to Beat SEC Despite Being Former Critic
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American blockchain payments firm Ripple Labs Inc just got a new supporter in the person of Messari co-founder and CEO Ryan Selkis. Taking to his favorite communication channel, Selkis said that despite his prior criticism of Ripple for various reasons, he wants the firm to win against the U.S. Securities and Exchange Commission (SEC) in its ongoing lawsuit.

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According to Selkis, the XRP-SEC case is an "overreaching" one, aligning with other vocal critics that have been against the market regulator for going after crypto firms. Citing a thread from Messari, Selkis said owing to the availability of demand, "XRP Ledger should be afforded the opportunity to compete fairly on digital payments infra globally."

Despite the SEC lawsuit targeted at the company, Ripple has consistently expanded its business off the shores of the United States. With strategic partnerships inked across the board, the payment infrastructure being branded by XRP Ledger is now being used for remittance purposes in more regions than before.

According to the Messari update, XRP Ledger is being positioned to provide financial services to both individuals and existing financial institutions like central banks.

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More support, more chances?

One crucial question to ask is whether the new support from Messari's Ryan Selkis will make any difference in the direction of the lawsuit moving forward. Since the start of the legal brawl, Ripple has enjoyed backing from pro-crypto lawyers like John Deaton and James K. Filan, both of whom have helped contribute in some way to shaping the perceptions of both the court and the public.

While Messari's voice will lend further legitimacy to the Ripple business model and technology with the public, it may have little to no sway in the lawsuit, especially at this time when the summary judgment phase is expected.

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