XRP Lawyer Thanks Gary Gensler, But Why?

[{"selector":"#anim-4db667e1-8e6e-4a5a-a852-c640863f14a2","keyframes":{"transform":["translate3d(583.60639%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1500,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-6bf42edb-d342-43a0-b4b1-32f30761027d","keyframes":{"transform":["rotateZ(180deg)","rotateZ(0deg)"]},"delay":0,"duration":1500,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}] April 14, 2023

XRP Lawyer John E. Deaton has taken a satirical jab at SEC Chairman Gary Gensler by tweeting a screenshot of Coinbase's announcement to suspend XRP staking on its platform.

[{"selector":"#anim-14ca92d1-aae9-4dc3-beb7-3938f946035c","keyframes":{"transform":["translate3d(119.59459%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-526c51a5-3981-428e-ac61-9e48c7903976","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0aedec05-94dd-4821-9dcf-0af0e0ef20d9","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

While the post was meant to be humorous, it highlights a serious concern for XRP investors who have been left in the lurch after the SEC's ongoing lawsuit against Ripple Labs.

[{"selector":"#anim-4c082bd4-f913-45b6-815a-8a29c830a5d4","keyframes":{"transform":["translate3d(119.01639%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a40b2f5a-4f88-4e27-86a8-97fa30b26915","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-953ca1aa-54ab-4a15-95a5-6555cb3e3c51","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

The SEC alleges that XRP is a security, and as such, should be registered with the regulatory body.

[{"selector":"#anim-ad6b697e-5322-4ac5-8179-d23b38d40aab","keyframes":{"transform":["translate3d(122.53521%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-eb4a96ac-a8cd-4aab-9a10-7b38cd134253","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4434a9a5-747d-4ef7-a38c-b706998759d4","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

This has led to several exchanges delisting XRP, including Coinbase, which stopped trading the token earlier this year.

[{"selector":"#anim-a520d6d8-ca3e-48e9-936c-895e7f4c4fec","keyframes":{"transform":["translate3d(122.02797%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8d38f32a-7f73-4a2b-b328-1f759c52b420","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dc63f903-67b1-4ec8-94d4-a1d2b3e4acfe","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Now, with staking suspended, XRP holders on Coinbase have one less option to earn rewards on their holdings.

[{"selector":"#anim-fe9ac8b9-8246-4b44-864a-eda766fa23cb","keyframes":{"transform":["translate3d(120.54793%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-de6bcf08-8c85-4580-9f2d-6faf71ead88e","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-85958ce6-b13f-4c79-b3c5-1a92b3d8391c","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

This move could push more XRP holders to move their funds to other platforms that still allow staking.

[{"selector":"#anim-c8aaab7e-23e5-46f5-88d0-1f9623c493ae","keyframes":{"transform":["translate3d(124.63769%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-95cccede-5aa9-4407-b285-990b5d766785","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-33ecbe2e-8e48-45e8-98d3-eeb7575b3af9","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

An XRP supporter said- "Thank you Gary for protecting me from my passive income. That extra money to make ends meet was dangerous to me and my kids."

[{"selector":"#anim-3bea46d4-4613-4024-a6f6-8f2ac918e2aa","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7c253b58-c988-4d96-8173-9a02c7977a60","keyframes":{"transform":["translate3d(-89.01515%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1f2ef785-a90f-4d88-9db4-2abc498facaa","keyframes":{"transform":["translate3d(537.70474%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1500,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-1f2e9ca8-13c3-47f9-bc39-0ae51dbfd097","keyframes":{"transform":["rotateZ(180deg)","rotateZ(0deg)"]},"delay":0,"duration":1500,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}] More Crypto Stories...