Ripple Lawsuit Proves Free Market Doesn’t Exist: XRP Lawyer – Crypto News – Crypto News
Connect with us
ripple sec XRP news lawsuit ripple sec XRP news lawsuit

Technology

Ripple Lawsuit Proves Free Market Doesn’t Exist: XRP Lawyer – Crypto News

Published

3 years ago

on

Ripple News: The United States Department of Justice (DOJ) reportedly hinted that they will be taking action against the short selling ahead. The exercise of making a profit by betting against the stock price surge has now become a major focus for US prosecutors.

Also Read: Why LBRY Latest Court Filing Is Critical For XRP Case Judgment?

Short Sellers To Be Charged?

As per a reports, the chief of the DOJ’s market integrity team made crucial comments on the short selling practice. This comes in when the US regional banks stocks witnessed a massive sell off in the past few months. However, three mid size US banks collapsed in just five days in the month of March 2023 triggering a sharp decline in global bank share prices.

Avi Perry, a Justice Department official reportedly stated that short selling, including via options, is a top concern for prosecutors. He warned the market of more activity from short sellers ahead. However, he hinted that actions against officials using corporate trading plans to manipulate the market.

The report mentioned that the US Securities and Exchange Commission (SEC) and DOJ have extensively investigated the manipulation done by short sellers, including hedge funds, since 2021. Read More Ripple News Here…

Watchdogs Unable To Provide Clarity

John Deaton, XRP holders’ attorney in the US SEC Vs Ripple lawsuit commented on the watchdog’s decision to go after short sellers. He stated that Ripple’s legal tussle with the commission depicts that free market capitalism doesn’t exist. The attorney highlighted the SEC’s inability to provide clear regulations to the market.

The SEC has been unable to prove its several assertions against Ripple in court. The commission constantly changed its claims on the the famous Hinman’s Ethereum speech and related documents.

XRP Lawyer highlighted that few unelected regulators are deciding the winners and losers in the market. Meanwhile, JPMorgan Chase can set a short bet against anyone but short sellers cannot target them back. If some traders try to do short big banks, regulators jump in to change the rules.

Ashish believes in Decentralization and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at ashish@coingape.com

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending