The XRP price dipped around 2.5% today, now trading at $0.53-$0.532 range. In the meantime, lawyer Bill Morgan continues to slam Ripple executives, mainly because of their support towards Kamala Harris in recent days.
The discussion heated up when lawyer MetaLawMan highlighted Chris Larsen’s $10 million XRP donation to Kamala Harris’s campaign. The tweet pointed out that the campaign would need to convert XRP to U.S. dollars through an exchange, raising questions about potential SEC oversight given the ongoing legal battles.
In response, Bill Morgan clarified that the SEC’s previous legal action against Ripple didn’t target gifts, donations, or giveaways. He emphasized that donations don’t constitute investment contracts and therefore fall outside SEC jurisdiction. Morgan noted that the SEC has already acknowledged that XRP itself isn’t inherently a security, with its classification depending on usage context.
Political Tensions Rise in Crypto Space
The situation took an interesting turn when Ripple CEO Brad Garlinghouse publicly endorsed John E. Deaton’s Senate campaign. Garlinghouse praised Deaton’s unwavering support of the XRP community over the years, particularly his role during Ripple’s legal battle with the SEC. In his endorsement, Garlinghouse emphasized that Deaton, unlike Senator Warren, truly understands the crypto industry and its potential for innovation.
Bill Morgan didn’t hold back in his response to Garlinghouse’s endorsement. He strongly backed Deaton while delivering a scathing critique of Senator Warren. Morgan accused Warren of repeatedly making false statements about cryptocurrencies and claimed she employs deceptive tactics to push her agenda.
He went further, stating that Warren’s behavior makes her morally unfit for public office, and praised Deaton as someone who would bring honesty and real understanding of digital assets to the Senate.
Morgan’s comments highlighted how the XRP and Ripple saga has evolved beyond just legal battles into a broader political fight. On one side stand figures like Deaton and Garlinghouse, advocating for clearer, more supportive crypto regulations. On the other is Warren, whom Morgan and others in the crypto space view as promoting excessive, potentially harmful oversight of the industry.
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