Do Kwon Using Ripple Ruling For Terra Luna Case Could Lead To An Appeal

 

I know we're all excited about what happened with xrp the ruling that we had um for ripple and just understanding what cryptocurrency is going to do as a whole because of what has happened to xrp we've seen so much more volume that has gone into this position as well as the crypto market and um it's sort of back and forth right now right you see xrp at a much higher floor um giving it a much higher price ceiling as well um but you need to see the entire

cryptocurrency Market really react to something like this and if the market is not ready we're not going to see Things Push but that ruling was kind of everything right because we had the ruling coinbase relisted xrp which was big seeing uh Kraken release xrp which is Big um you know seeing all of the different places that delisted it because of that um you know I wouldn't call it a ruling before but accusation that they had uh for ripple and xrp labeling it as a security but then now having that ruling to say it's not a

security um a lot of people brought up the fact that they could do an appeal and they could definitely do that it's not a um I I wouldn't say that they would just accept the ruling uh from here I would have thought that with um you know multiple lawsuits that are going on that they would probably you know just uh focus on others that are out there and spend money in different places um taxpayers money at that spending money at um for these lawsuits with binance and coinbase and uh you know Terra Luna classic but

um yeah it's looking like it's going to lead to appeal and there's also an um a thing that's kind of pushing that appeal a little bit forward and I saw an article today talking about Terra Luna classic and how the dokwan may be trying to use the Ripple ruling in his favor which makes sense right if you're labeled as you know a a security if you are labeled as doing illegal things in any way that does somehow um you know connect to what happened with uh Ripple and xrp then you should use that right that's what case law is

um this let's go into this article here um and just uh read a little bit and then we'll look at you know Terra Luna classic and xrp and give you like a little bit of an update because I know that we're not um we haven't had an update around and expect to do another update on any or either this these positions um but anyways so SCC this was on uh July 21st which was um uh I guess updated on July 22nd and um which was yesterday but the SEC signals intent to appeal Ripple ruling claiming judge was in error now as we

scroll down here on July 24th the SEC stated it would appeal the decision by the U.S District Judge um in an ongoing battle with ripple Labs the SEC fights back the ruling that ripples uh sales to investors did not violate Securities laws uh has given hope to the rest of the crypto industry it has also given hope to uh the the raft of others uh other defendants also facing the SEC lawsuits for uh allegedly selling securities one such defendant is terraform Labs co uh founder dokwon who is currently in jail according to Wall

Street Journal Juan is trying to use Ripple Ripple results in his own battle against the regulator which has accused him a fraud the SEC stated that the judge presiding over the case should not seek guidance from from the Ripple ruling uh judge torah's uh decision added baseless requirements uh to the test that determines whether an asset is a security it said uh before adding that there will be a a further review now this is obviously something that doesn't make sense to me it makes no sense at all when you have any type of ruling to

where you have something that may be similar within it now I'm not saying that everything you know that happened in the Terra um you know case or situation right um was uh you know contributed to this or was uh connected to this in any way um or in a large way right but majority of it right so if we have anything that has any type of similarities that's what you use case law for right that's why when you when you go into the court hearing or you go into any type of chord hearing they're pulling different cases

to figure out what what judges ruled on this in similar cases and that's the way that you go about getting a solid definition even though it's going to kind of confuse things right if you have sorry if you have any type of ruling that's going the opposite way um does that mean that you start to confuse things um you know with the these cases and yes that could be the case but right now it's all in the favor of cryptocurrencies right you're getting a solid definition based on uh case law and um that's that means a lot right case

law means the most right if a judge ruled in in your favor uh for this specific thing and you have a a thing that looks exactly the same that's the same case or or close to it you can argue that you would have that same ruling that the others did does that make sense so that's what case law is all about you can't say hey you know the the judge didn't know or uh added baseless requirements uh to the test when you know it's it's a judge you're basically saying that this judge is incompetent and that's not what you want

to say about any judge anywhere um so that's what we're dealing with right we have dokwon that that's coming out and trying to use ripples um you know ruling for the Terra Luna classic case or Terra Luna case um and ustc which um in uh when I look at it I believe that they're doing the right thing by using that it's brand new it's something that's uh one getting a lot of traction and two it's freaking case law that's what you use I don't know what else to say now uh Terra Luna classic

um is still at if we're looking at the price Tara Luna classic is still at about um 86 uh 73 four zeros 86 73 it's down about two percent today we're seeing about a 500 million dollar market cap and xrp is also down today the markets don't really look that great um I think they're down to like a 1.

19 trillion dollar market cap but xrp is down to 74 cents it's down four percent we're still seeing two billion dollars that's going into it um so either way I think you have a lot of money that's flowing into these projects but it would be very very beneficial um to see you know maybe beneficial to some extent to see uh the the ruling kind of stick throughout cases does that make sense but anyways they're looking to appeal um the the ruling and I didn't want to see that happen I just want to see them

and I understand why right if they didn't get their way then you appeal the ruling because you just want to either extend the lawsuit um or you want to find a way to get the ruling to push into your favor um and just provide more evidence that you didn't provide in the last two plus years anyways guys let me know what you're thinking about this it's kind of interesting to me to see that they're going to appeal all the Ripple ruling but I've literally on the day of I was hearing rumors of of