SEC v. XRP: Andreessen Horowitz General Counsel Does Not Think Ripple Can Win

Nov 11,2022
SEC v. XRP: Andreessen Horowitz General Counsel Does Not Think Ripple Can Win

Miles Jennings, the general counsel of Andreessen Horowitz (a16z) and the person responsible for checks and balances, said that she did not expect Ripple to successfully appeal to the SEC in court. This person's suggestions are based on the fact that Ripple itself sells XRP retail to investors.

Jennings indicated that according to the statement of the Federation, this fact represents that the value of cryptocurrency is determined by the behavior of enterprises, which is different from the value used in a decentralized ecosystem. He concluded: "I came to work for Ripple and did some work for CCI's newsletter, but I have no illusions.".

Encryption andXRP EnterpriseThe holder means that John Deaton boycotts Jennings' position and says it is meaningless to rely on the suggestions of the regulatory authorities. Dieton gave an example to say that Siman, the former responsible person of SEC, felt that Ether was not a kind of security, while the director of the current committee felt that it was a kind of security.

Centralized collapse

This a16z senior official's evaluation of Ripple follows her argument that all the important failures of the new encryption projects in the near future are due to their density, or more accurately, not dispersion. A recent example is mainly the decline of FTX, the latter kind of bankruptcy.

Very likelyThe FTX will be taken over by Binance, another industry leading centralized encryption sales market. The bankruptcy of FTX and its subsidiaries caused the US stock market to drop by 100 billion US dollarsEncryption Sales MarketSingle day deferred income tax.