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HomeAltcoinsRipple critic Ryan Selkis comes in support of Ripple, says SEC's overreach

Ripple critic Ryan Selkis comes in support of Ripple, says SEC’s overreach

CryptoLaw founder John Deaton in an argument with Ethereum founder Vitalik Buterin in a Twitter thread on August 18, mentioned the stance of Ripple’s most vocal critic, Ryan Selkis, who condemned the SEC’s overreach.

CryptoLaw founder Deaton stated that even renowned critic Ryan Selkis is hoping for Ripple to win the case against SEC. In addition to that, Deaton also revealed that Ryan will talk with Ripple founder Brad Garlinghouse next month.

Notingly, a vocal critic of Ripple and XRP, Ryan Selkis, earlier raised the inquiry on its utility by saying, “the question is if cryptocurrency is vital in the Ripple ecosystem. The chances of XRP being used by enterprises are extremely low.”

According to the online media report, Vitalik once again provoked the Ripple community by saying XRP had lost its protection. Vitalik attached the argument represented by Ripple against SEC in the ongoing lawsuit, mentioning XRP should not be put into the Security category by saying Bitcoin and Ethereum are the same.

The founder of CryptoLaw, John E Deaton responds to Vitalik in a series of tweets, mentioning Ripple has the potential to protect itself rather than the view of the Ethereum creator.

Moreover, in his tweet, Deaton, by mentioning the Vitalik tweet, said that the Vitalik remarks were an insult to all the XRP holders who one way or the other lost their funds because of the SEC claim.

SEC (Securities and Exchange Commission) in December 2020, took charge of Ripple Labs by claiming that Ripple had raised over $1.3 billion by unregistered digital assets which later found out to be securities.

David Schwartz, CTO of Ripple, by reacting to Vitakik’s comment, compared the miners of ETH and BTC with the eBay shareholders and equate both of them as Securities as well.

Despite all the ongoing lawsuits, ODL of the ripple is achieving its new highs. Recently, Ripple partnered with Brazil’s Travelex bank for facilitating funds transfer across borders.

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