Recently, A top executive at Ripple notes how that the U.S. Securities and Exchange Commission helped Ethereum overtake XRP. In order to become the second-largest crypto by market cap.
Furthermore, Ripple Labs chief executive officer Brad Garlinghouse explains this In a new interview at DC FinTech Week. More so, explaining that XRP was second to Bitcoin (BTC) until the SEC stepped in.
“The idea that the United States government…”
“hasn’t helped pick winners in the United States’ ecosystem around crypto is crazy.”
“Within the last few years, XRP was the second-most valuable digital asset…”
“As it became clear that the SEC had given the hall pass to ETH,..”
“ETH obviously has kind of exploded. I just fundamentally think we should let market…”
“forces determine winners and losers, not regulation…”
“by enforcement as we’re seeing today.” More talks on XRP suffice…
Recall, In December of 2020, the SEC starts a lawsuit against Ripple Labs. Also, the lawsuit claims that the company sells the crypto asset XRP as security without registration. Consequently, The filing causes XRP’s price to decline from $0.57 to $0.26, according to CoinGecko.
Currently, XRP’ price is around $1.09.
Lastly, Ethereum goes on to become a stronger force with much dominance. So, this is exactly when the SEC declares it in 2018 as not security.
Subsequently, this single decision brings ETH’s price to about 9X increase, according to CoinGecko.
While, XRP struggles.
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