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 Most of these coins are backed by nothing; Bitcoin’s tech is outdated.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

Stablecoins Associated with First Digital Trust (FDT) Temporarily Depegs as Justin Sun Warns of Company’s Insolvency

In a surprising turn of events, Justin Sun, a prominent figure within the Tron (TRX)…

April 2, 2025

Trump Tariffs Live: Bitcoin Price Rallies To $87000 On ‘Liberation Day’

Cryptocurrency markets are experiencing fluctuations as traders brace for President Donald Trump's "Liberation Day" announcement,…

April 2, 2025

Grayscale Announces Launch of Two New Bitcoin ETFs: Here’s What They Are

Grayscale, a leading crypto asset manager, has introduced two new Bitcoin ETFs, offering a fresh…

April 2, 2025

Remember This Name! Remittix Presale Becomes the Top Predicted of 2025 as Project Raises Almost $15M in Record Time

In a year marked by conservatism and a sentiment shift in crypto, one name is…

April 2, 2025

Has Elon Musk Forgotten About Dogecoin (DOGE)?

Particularly for Dogecoin (DOGE), Elon Musk, the billionaire entrepreneur CEO of Tesla and SpaceX, has…

April 2, 2025

Shiba Inu Drops 9%, but RUVI AI’s (RUVI) Token Might Be the Meme Coin Killer as Investors Rush to Claim their Bonus

The cryptocurrency market is no stranger to ups and downs, and this week, Shiba Inu…

April 2, 2025