Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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.
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."
I've been critical of Ripple in the past (various reasons), but more aligned with them than ever before.
Ripple should win the overreaching XRP-SEC case, and the XRP Ledger should be afforded the opportunity to compete fairly on digital payments infra globally.
Demand is there! https://t.co/fewaEami0p— Ryan Selkis 🥷 (@twobitidiot) March 21, 2023Coinbase Names 5 Cryptocurrencies to Be Delisted: Details1,000,000,000 XRP Unlocked by Ripple as It Sets New RulesStrategy's Saylor Reveals Asset That Leaves Bitcoin in Dust This YearBitcoin (BTC) Golden Cross: Secured, XRP Will Explode After This Level Is Reached, Did Solana (SOL) Just Paint Double-Top?
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.
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.
Vladislav Sopov