Now we know. We always knew. XRP allegedly being a “crypto asset security” was just a bluff by the SEC. They apologize to a federal judge, after Ripple spent tens of millions of dollars on litigation, after XRP hodlers faced backlashes and misery. This makes the SEC’s case against Ripple de facto over. Time to rock and roll.

XRP is in a strong position right now. Grayscale’s trust and a potential XRP ETF, the SEC not appealing in the case against Ripple, the upcoming Ripple U.S. dollar RLUSD stablecoin and overall improving crypto market conditions.

Ripple's case is over, but the 'fair notice' defense is still alive for others. The SEC cites the 2017 DAO report as industry notice that 'crypto asset securities' are subject to US securities laws. Seven years later, the SEC apologizes to a federal judge—surely a person of at… pic.twitter.com/fTjQMKEwCw

— Stuart Alderoty (@s_alderoty) September 13, 2024

So the SEC finally admits that 1/ "crypto asset security" is a made up term and 2/ to prove a "crypto asset security" is an investment contract, the SEC needs evidence of a bundle of "contracts, expectations, and understandings"?

Think it's time for @SECgov to admit it has… https://t.co/iJIYTnNvxs pic.twitter.com/E58Pft7irc

— Stuart Alderoty (@s_alderoty) September 13, 2024