News View Non-AMP

Fox Business Journalist Shares Worst-Case Scenario if Ripple loses to SEC

Published by
Sohrab Khawas

The United States Securities and Exchange Commission (SEC) is continuing to place a high priority on its legal struggle against Ripple and is moving in the direction of an expected summary judgment. Even while the majority of people in the community hope that Ripple will prevail, we just can’t seem to get over the fact that SEC could really prevail.

Reporter Highlights Worst-Case Scenario If SEC Wins

In a tweet posted on January 5, 2023, a reporter for Fox Business named Charles Gasparino describes the worst possible outcome that may occur if Ripple were to lose its lawsuit against the regulatory body. This scenario begins with the premise that Ripple is unsuccessful in their legal challenge.

Then, buoyed by the result, SEC head Gary Gensler would very certainly initiate an assault on Ethereum in court due to Ethereum’s sales of the cryptocurrency, says Gasparino. According to the reporter, this would render two of the most promising cryptographic systems useless. He went on to say that the bulk of cryptocurrencies now available on the market are not backed by anything.

Gasparino’s words were:

“Gary Gensler could, probably will target Ethereum for its sales, crippling the two best technologies in crypto. Most of these coins are backed by nothing; Bitcoin’s tech is outdated. Ripple and Ethereum are real. Scary stuff.”

Despite saying he’s reviewing the Ripple vs. SEC case in detail, he questioned why the commission was giving more attention to the XRP case than the FTX case, which is a reasonable point to raise.

Conclusion

It should be noted that the SEC considers Ripple to have defied the agency’s authority by continuing to sell XRP despite warnings. This occurred despite the SEC warning Ripple to halt the sale, and the commission was eager to establish XRP as a security based on how Ripple was selling its original digital currency.

Gasparino’s predictions are unlikely to come true, as many in his tweet’s comments section have pointed out. Recall that crypto attorney John Deaton started a Twitter thread asking the community whether or not they expected Ripple to settle this year. The overwhelming majority of the respondents said yes. Only time will tell what exactly the outcome of this case will be.

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

Recent Posts

Shiba Inu (SHIB) Price Forecast Today

SHIB price has potentially broken out of a YTD falling channel in the past few…

April 24, 2025

Arbitrum (ARB) Price Analysis: Dead Cat Bounce or Full Blown Recovery Next?

ARB price has followed a similar fractal pattern to the September 2024 bullish breakout. The…

April 24, 2025

Should You Buy More TRUMP to Have Dinner With President Trump? Will the TRUMP Price Sustain Above the Gains?

Soon after the launch, the OFFICIAL TRUMP (TRUMP) price experienced a huge pullback that has…

April 24, 2025

Whales Turn Active After Ethereum’s Strong Recovery: What’s Next for ETH Price?

Ethereum's price has jumped after being stuck in a slump for several weeks, helping it…

April 24, 2025

WIF, BONK & FLOKI Prices Attract Massive Gains—Has the Memecoin Mania Begun?

The memecoins have begun to rise as Bitcoin displays massive stability after the recent upswing.…

April 23, 2025

President Donald Trump to Hold an Exclusive Dinner For Top 220 $TRUMP Token Holders on May 22

The top 220 $TRUMP holders by May 12 will be eligible for the Gala dinner…

April 23, 2025