FOX Business Correspondent Warns XRP Investors Amidst Legal Battle with SEC
Charles Gasparino, a FOX Business correspondent, has sounded a cautionary note for XRP investors amidst the ongoing legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC).
Gasparino emphasized the financial risks associated with XRP holdings in light of the legal uncertainties surrounding the token.
Gasparino suggested that the SEC could pursue an appeal against Judge Analisa Torres’ ruling, which found Ripple guilty of violating federal securities laws in its sale of XRP to institutional investors but not retail investors.
He speculated that SEC Chairman Gary Gensler’s classification of Ethereum as a security could spur the agency to aggressively pursue an appeal in the Ripple case.
Gasparino warned that if the SEC succeeds in overturning the ruling, XRP investors may not see significant returns, and the token’s price could plummet.
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While acknowledging Torres’ previous denial of the SEC’s appeal, Gasparino noted the possibility of the SEC challenging the case further after the April trial.
In a separate post, Gasparino discussed BlackRock’s reluctance to introduce a spot XRP exchange-traded fund (ETF). He attributed BlackRock’s cautious stance to the regulatory uncertainties surrounding XRP, describing the decision as “disappointing.”
Robert Mitchnick, BlackRock’s head of digital assets, reaffirmed Bitcoin as the company’s primary focus, emphasizing its importance over other cryptocurrencies like XRP.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
