The stock subsequently plummeted, and Dorozhko made a substantial profit. Initially, the court found Dorozhko's actions did not amount to a securities violation, the decision was later reversed on appeal. The question now is whether history may repeat itself in Ripple's case.
Following the Ripple verdict, Stark predicted that the San Francisco-based company was likely to lose the appeal.As reported by U.Today, Ripple CEO Brad Garlinghouseof the SEC's approach to cryptocurrency regulation. Following the SEC's decision to appeal the recent ruling in favor of Ripple, Garlinghouse criticized the regulatory body for what he views as overstepping its legal jurisdiction.
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