Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Ripple’s Partial SEC Win: ODL’s Future in Spotlight

Ripple’s Partial SEC Win: ODL’s Future in Spotlight

CoineditionCoinedition2024/08/08 16:00
By:Nynu V Jamal
  • Ripple secures partial victory in SEC lawsuit, facing $120M penalty instead of $2B.
  • Ruling sparks debate on implications for XRP and ODL services.
  • Experts divided on whether this is a decisive win for Ripple or just another chapter in the legal battle.

Ripple scored a partial win in its legal battle with the SEC, with a judge ordering a $120 million penalty instead of the $2 billion sought by the regulator. The ruling also touched on Ripple’s On-Demand Liquidity (ODL) service. Experts are divided on whether this marks a decisive victory for Ripple or just another chapter in a complex saga that started almost four years ago.

Ripple’s Chief Technology Officer David Schwartz and crypto influencer ScamDaddy, engaged in a lively debate on X (formerly Twitter) regarding XRP’s use in ODL transactions. The discourse centered on whether the recent injunction restricts such use.

Taking account of the claims suggesting Ripple’s XRP use for ODL transactions, ScamDaddy posited that it is just a matter of “misinformation.” In response to ScamDaddy’s post, Ripple’s CTO criticized him for not distinguishing between XRP’s use and sales. He slammed the expert, citing, “You aren’t quite high enough.”

XRP advocate Bill Morgan also voiced concerns about the lack of clarity in Judge Analisa Torres’ injunction, questioning the judge’s equation of equating ODL sales with institutional sales. He highlighted the lack of explanation for classifying these sales as investment contracts.

In a subsequent post, Morgan replied to Matt Rosendin, the founder of the blockchain firm CapSign. While Rosendin commented on the ODL’s return to the US, adding that the judge’s injunction doesn’t matter for ODL in the US, Morgan responded , “The injunction matters.” Morgan’s critical statement was based on the lack of clarity in the injunction and its potential implications for ODL sales.

Another important headline that caught the XRP Army’s attention is the debate over the possible appeal following Judge Torres’ latest ruling. Legal expert James Murphy (MetaLawMan) predicts the SEC will likely appeal the ruling, adding that the regulator’s response could be known within the next two months.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

OracleX Global Public Beta: Restructuring Prediction Market Incentive Mechanisms with "Proof of Behavior Contribution"

OracleX is a decentralized prediction platform based on the POC protocol. It addresses pain points in the prediction market through a dual-token model and a contribution reward mechanism, aiming to build a collective intelligence decision-making ecosystem. Summary generated by Mars AI The content of this summary is produced by the Mars AI model, and its accuracy and completeness are still being iteratively improved.

MarsBit2025/11/30 17:21
OracleX Global Public Beta: Restructuring Prediction Market Incentive Mechanisms with "Proof of Behavior Contribution"

Bitcoin is not "digital gold"—it is the global base currency of the AI era

The article refutes the argument that bitcoin will be replaced, highlighting bitcoin's unique value as a protocol layer, including its network effects, immutability, and potential as a global settlement layer. It also explores new opportunities for bitcoin in the AI era. Summary generated by Mars AI. This summary was produced by the Mars AI model, and the accuracy and completeness of its content are still being iteratively improved.

MarsBit2025/11/30 17:20
Bitcoin is not "digital gold"—it is the global base currency of the AI era