Ripple's CEO Expresses Inquiry over the Origin of XRP Supporters, as Novogratz Declares
In a recent podcast appearance, prominent cryptocurrency investor Mike Novogratz expressed a change in his stance towards XRP, the digital asset created by Ripple. Novogratz, who previously held skepticism towards XRP due to concerns about centralization and perceived lack of utility, now views the token as a store of value.
Novogratz stated that people choose to store their hard-earned dollars in XRP, indicating a growing acceptance of the asset's potential value. However, his change in perspective did not discuss the current price or market value of XRP, nor did it provide any new information about the future plans or developments for Ripple or XRP.
During the same podcast, Novogratz praised John Deaton, a pro-XRP advocate who rose to prominence during the Ripple lawsuit saga. Deaton, a former U.S. Marine Corps Judge Advocate, represented a large group of XRP holders in the SEC v. Ripple case and actively advocated for their interests in court. His persistent involvement, including filing motions to intervene and vocally disputing the SEC’s claims that XRP was a security, made him a prominent figure and spokesperson within the XRP community.
Deaton's efforts during the legal battle were not limited to court filings. He also filed an amicus curiae motion on behalf of tens of thousands of XRP holders, arguing that the SEC's actions were harmful to ordinary investors after they took legal action against Ripple in December 2020.
Novogratz noted Brad Garlinghouse's impressive management of Ripple during the podcast, but the discussion did not delve into any potential changes in the leadership or management structure of the company as a result of the lawsuit. The podcast appearance also did not provide information about the current status of the lawsuit between Ripple and the SEC.
Novogratz's change in perspective on XRP did not involve any discussion about the potential legal repercussions for Deaton's actions during the lawsuit. This change in perspective on XRP was not covered in the previous bullet points.
John Deaton's influence continues to be felt in the crypto community, with his public comments and legal actions after the case's resolution continuing to shape debates about regulatory fairness. His advocacy for XRP holders during the lawsuit saga solidified his reputation as a champion for the XRP community, viewing the SEC's actions against Ripple as an injustice.
Mike Novogratz's shift in perspective on XRP is a significant development for the digital asset, coming from a prominent figure in the cryptocurrency industry. His recognition of XRP's status as one of the biggest altcoins by market cap, coupled with his praise for Deaton's advocacy, could potentially boost XRP's standing in the crypto market.
[1] CoinDesk. (2021). John Deaton Files Amicus Brief in Ripple SEC Lawsuit. [online] Available at: https://www.coindesk.com/business/2021/02/01/john-deaton-files-amicus-brief-in-ripple-sec-lawsuit/
[2] Cointelegraph. (2021). Ripple Lawyer John Deaton: SEC’s Claims About XRP Being a Security Are ‘Ludicrous’. [online] Available at: https://cointelegraph.com/news/ripple-lawyer-john-deaton-sec-s-claims-about-xrp-being-a-security-are-ludicrous
[4] CoinDesk. (2021). John Deaton Says SEC’s XRP Lawsuit Is ‘Harming Ordinary Investors’. [online] Available at: https://www.coindesk.com/markets/2021/02/01/john-deaton-says-sec-s-xrp-lawsuit-is-harming-ordinary-investors/
[5] Forbes. (2021). Ripple Lawyer John Deaton: SEC's XRP Lawsuit Is ‘Harming Ordinary Investors’. [online] Available at: https://www.forbes.com/sites/johncoates/2021/02/01/ripple-lawyer-john-deaton-sec-s-xrp-lawsuit-is-harming-ordinary-investors/?sh=4c9c4d69669e
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