In July, a United States judge ruled that Ripple Labs’ XRP (XRP) token was not a security when sold to the public on secondary markets. While the Securities and Exchange Commission will contest the decision, the broader cryptocurrency community has embraced it, as crypto trades on exchanges might sidestep the securities transaction label.
Despite the ruling, the crypto market continues to suffer from broader uncertainty. Ripple has long been entrenched in this battle, but this legal victory might serve as a partial emancipation, allowing the company to relight its former flame. This case presents an opportune moment for the company to chart a new course, turning the page from an old chapter to ignite a new era.
Eric Chen is the co-founder and CEO of Injective Labs. Prior to Injective, he was a researcher at Innovating Capital, working on trading strategies and protocol research. Before that, he was a part of the Blockchain Lab at NYU. Eric has worked within the crypto industry since 2017. Eric dropped out of NYU.