The SEC said everything will be decided in New York. So, here we (XRP holders) come!
On December 22, 2023, former SEC Chairman Jay Clayton directed the filing of the most significant SEC enforcement action in modern history on his last day. The SEC complaint named defendants Ripple Labs, along with, co-founder Chris Larsen and CEO Bradley Garlinghouse.
The SEC action against Ripple and its executives caused over $15 billion in losses for XRP holders in the days following it.
Clayton’s action against Ripple, and its impact on retail investors, was the culmination of more than a decade of the SEC refusing to set clear rules of the road for the treatment of digital assets or the development of projects that used them. They have chosen to set policy by enforcement, dismissing the interests of the people they have a mission to protect.
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