Renowned crypto lawyer Bill Morgan has blasted FOX business journalist Charles Gasparino for referring to Judge Analisa Torres as “doltish” over her ruling in the ongoing SEC Vs Ripple case. Morgan highlighted the facts behind the judge’s ruling, explaining that it was based on the SEC’s submissions. Hence, Gasparino cast his negative aspersions on the wrong target.
You think Judge Torres is doltish because she decided that Ripple’s institutional sales directly to institutions are investment contracts and programmatic sales in the secondary market were not investment contracts despite the vastly different facts between the different sales… https://t.co/4R1erTDNgN
— bill morgan (@Belisarius2020) December 29, 2024
Morgan noted that the SEC pushed the narrative about a distinction between Ripple’s XRP sales to institutional investors and the secondary market. The crypto lawyer clarified that Judge Torres decided on the case based on the facts the SEC presented and the Howey test. Hence, exonerating her from Gasparino’s “faulty” aspersions.
Related: Ripple vs SEC: Gasparino Questions Fairness and Impact
Meanwhile, Morgan responded to Gasparino’s attack on a crypto analyst who accused him of bias in the Ripple Vs. SEC. In a recent podcast, the analyst accused Gasparino of wanting Ripple to lose, highlighting the objectiveness behind Judge Torres’ judgment, contrary to the journalist’s opinion.
Gasparino has been infamous among both the SEC and XRP supporters over his take on the ongoing litigation. He criticized the SEC’s approach in the ongoing case, accusing the agency of misplaced priorities and regulatory overreach. The renowned journalist thinks the SEC’s actions forced Ripple to move its potentially beneficial technology abroad to the United States’ loss.
Related: The SEC May Drop the Ripple Case After Donald Trump Resumes Office
Events surrounding the SEC Vs. Ripple’s case continue heating up as a crucial deadline that may determine the outcome approaches. Additionally, speculations about whether the incoming SEC chair will drop the case have launched a new dynamic into the mix, raising users’ expectations of the potential of the final decision on XRP.
Ripple’s partial victory in 2023 boosted the XRP community’s sentiment and triggered a notable rally in the cryptocurrency’s price. A similar outcome could cause heightened demand and launch a new phase in the crypto asset’s development.
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