Ryan Selkis, the CEO and co-founder of Messari, has recently come out in support of Ripple Labs Inc, the American blockchain payments company. Although Selkis has been critical of Ripple, he took to his preferred communication platform to express his belief that Ripple will prevail in its current legal battle against the United States Securities and Exchange Commission (SEC).
Despite his previous reservations about Ripple for several reasons, Selkis now wants the firm to emerge victorious in the ongoing lawsuit. Amid the ongoing SEC lawsuit against Ripple, the company has continued expanding its business outside the United States.
Through strategic partnerships with various entities, the payment infrastructure powered by XRP Ledger is now being utilized for payment purposes in even more places than before. As per the latest update from Messari, XRP Ledger serves as a provider of financial services not only to individuals but also to established financial institutions such as central banks.
This strategic positioning highlights the broader application of the technology underlying XRP and its potential to revolutionize the traditional financial system. For example, with its secure and transparent ledger technology, XRP Ledger could facilitate faster and cheaper cross-border transactions for individuals and large institutions.
Growing Support for Ripple: What It Means for the Company’s Legal Battle with the SEC
However, it is still too early to tell if the support from Messari’s CEO will significantly impact the lawsuit’s outcome. While Selkis is a prominent figure in the cryptocurrency industry, his support alone may not sway the court’s decision.
It is also important to note that the lawsuit against Ripple is not solely about the support or opposition of the cryptocurrency community. The SEC has alleged that Ripple and its executives sold unregistered securities, violating federal securities laws.
However, the court will likely base its decision on the case’s merits rather than public opinion. Nevertheless, the growing support for Ripple may indicate a shift in how the wider business and regulatory communities perceive cryptocurrency and blockchain companies.
As more established companies and industry leaders publicly support Ripple, regulators may need to pay more attention to the potential benefits of blockchain technology and the digital asset ecosystem.
Furthermore, the increasing interest and investment in blockchain and cryptocurrency may lead to the creation of more favorable regulatory frameworks.
In the meantime, Ripple continues to expand its business operations globally, despite the ongoing legal battle. With its focus on providing fast, secure, and low-cost cross-border payments, Ripple’s technology has already gained traction in the remittance industry.
As more financial institutions and individuals adopt blockchain-based solutions, Ripple’s position as a leading provider of global payment infrastructure may become even stronger. Ultimately, the lawsuit’s outcome may have far-reaching implications for the future of blockchain and cryptocurrency, and the ongoing support for Ripple may indicate what’s to come.
An important inquiry is whether Ryan Selkis’ endorsement of Ripple will impact the lawsuit’s outcome. Throughout the legal battle, Ripple has received support from pro-crypto attorneys, such as James K. Filan and John Deaton, who have somewhat influenced public and court perceptions.
While Messari’s support may enhance Ripple’s reputation and technology in the eyes of the public, it may not have much influence on the lawsuit, particularly during the summary judgment phase, which is currently underway.