Dogecoin Co-Founder Says If XRP Isn't Security, 'There Ain't Much That Would Be'

Author: Mehab Qureshi | July 14, 2023 07:53am

Dogecoin (CRYPTO: DOGE) co-founder Billy Markus, known by his pseudonym Shibetoshi Nakamoto, on Wednesday shared his thoughts on the impact of the XRP court ruling. 

What Happened: When asked by a Twitter user whether the crypto market was moving due to the XRP news or the recent Twitter airdrops, Markus responded, “Definitely the XRP news, because if XRP isn’t a security, there ain’t much that would be.”

The SEC had filed a lawsuit against Ripple Labs, accusing the company and its top executives of conducting a $1.3 billion unregistered securities offering. However, the court’s summary judgment favored Ripple Labs, stating that XRP is not a security.

def the xrp news cuz if xrp isn't a security there ain't much that would be

— Shibetoshi Nakamoto (@BillyM2k) July 14, 2023

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Why It Matters: This decision has marked a significant turning point in the legal battle between Ripple and the SEC. 

It is worth noting that the SEC has identified 19 other cryptocurrencies as securities in lawsuits against popular platforms such as Binance and Coinbase. 

Tokens listed as securities in the lawsuit against Binance include Cosmos (CRYPTO: ATOM), Binance Coin (CRYPTO: BNB), Binance USD (CRYPTO: BUSD), COTI (CRYPTO: COTI), Solana (CRYPTO: SOL), Cardano (CRYPTO: ADA), Polygon (CRYPTO: MATIC), Filecoin (CRYPTO: FIL), and more.

Price Action: At the time of writing, DOGE was trading at $0.070 up 9% in the last 24 hours, data from Benzinga Pro shows.

Read Next: Bitcoin, Ethereum, Dogecoin Fall After CPI Data Comes Out: Analyst Foresees ‘Deeper Decline’ For King Crypto After This ‘Savage’ Move

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Posted In: $ADA $ATOM $BNB $BUSD $COTI $DOGE $FIL $MATIC $SOL $XRP ATOM SOL