The Chopping Block: Should XRP Holders Really Be Rejoicing? - Ep. 519
Welcome to “The Chopping Block” – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news. This week, crypto lawyer Stephen Palley joins an emergency live show to unpack Thursday’s judgment in the Ripple case. Crypto markets are pumping after a judge handed Ripple Labs a partial victory in its fight against the SEC. But is the jubilation warranted? “I can understand why people are happy,” said Palley, a partner at Brown Rudnick LLP. “I’m just a little more cautious on what happens next.”
July 15, 2023
47 min
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Episode 519 · July 15, 2023
The Chopping Block: Should XRP Holders Really Be Rejoicing? - Ep. 519
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The Chopping Block: Should XRP Holders Really Be Rejoicing? - Ep. 519
Summary
Welcome to “The Chopping Block” – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news. This week, crypto lawyer Stephen Palley joins an emergency live show to unpack Thursday’s judgment in the Ripple case. Crypto markets are pumping after a judge handed Ripple Labs a partial victory in its fight against the SEC. But is the jubilation warranted? “I can understand why people are happy,” said Palley, a partner at Brown Rudnick LLP. “I’m just a little more cautious on what happens next.”
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform.
Show highlights:
why Judge Analisa Torres ruled that retail sales of XRP do not violate U.S. securities laws
how the court denied summary judgment on some issues relating to Ripple’s Brad Garlinghouse and Chris Larsen
why “Footnote 16” of the ruling was so “surprising,” according to Stephen
whether the SEC will appeal the case and how that process could unfold
why Coinbase, Kraken and other exchanges re-listed XRP and whether that’s a safe step
whether Coinbase will cite the Ripple judgment in its lawsuit against the SEC
how this ruling does not represent a binding precedent
why, even though this is a win for Ripple, it shouldn’t be used for investment strategy
why Haseeb thinks the SEC should “fire their press department”
whether the SEC’s case is “stronger than people on Twitter might like to believe”
how, if proven, the allegations against Celsius founder Alex Mashinsky are “straight-up fraud”
why Stephen says that a lot of the enforcement activity focused on DeFi was an “absolute misuse of resources”
Hosts
Haseeb Qureshi, managing partner at Dragonfly
Robert Leshner, founder of Compound
Tom Schmidt, general partner at Dragonfly
Tarun Chitra, managing partner at Robot Ventures
Guest:
Stephen Palley, litigation partner at Brown Rudnick
Disclosures
Links
Previous coverage of Unchained on the Ripple case:
New Order in SEC vs. Ripple Over XRP Is a Win for Crypto: What Happens Now?
The SEC's Lawsuit Against Ripple and 2 Execs: What You Need to Know
Ripple's XRP: Why Its Chances of Success Are Low
Unchained:
SEC vs Ripple: Judge Rules XRP Sold on Exchanges Is Not a Security
Former Celsius CEO Alex Mashinsky Arrested in New York - Unchained Crypto