Ripple CLO Stuart Alderoty on fire. In a few posts, he lays out the bitter truth driving the SEC’s corrupt vendetta. So here comes the on-fire cross-appeal against the commission’s appeal.

Key takeaways:

Importantly, the SEC has already said they aren’t appealing the ruling that XRP itself isn’t a security. (They even apologized in another case for suggesting a token itself could be a security!) That’s the law, and an appeal on these other issues doesn’t change it.

We look forward to the federal court of appeals finally putting a stake in the heart of Gensler’s misguided attack on our industry.

The SEC lost on all key points—that’s why they appealed. Today, Ripple filed a cross-appeal to ensure nothing’s left on the table, including the argument that there can’t be an "investment contract" without there being essential rights and obligations found in a contract.

— Stuart Alderoty (@s_alderoty) October 10, 2024

Ripple CEO doesn’t mince any words either – bluntly:

We’re looking forward to sealing the SEC’s fate and finally putting an end to the SEC’s regulation-by-enforcement agenda.

As I said earlier this month, if Gensler and the SEC cared about the rule of law, they would accept their loss and move on. But they are not interested in faithfully applying the law or in providing clarity to industry players in the US. Under Chair Gensler, the agency is only… https://t.co/hFlkXw83s8

— Brad Garlinghouse (@bgarlinghouse) October 10, 2024