Donald Trump’s recent political campaign rally in the South Bronx, New York, featured an attendee promoting the idea that “XRP is not a security.” This development was brought to light by Craig Brittain, a U.S.-based X user, who shared a video from Fox Business News.
During Trump’s speech, many of his supporters pulled out their phones to capture the moment. In the video, one attendee can be seen holding up a sign with a caricature of Trump and the words “XRP is not a security.”
To provide some context, the U.S. Securities and Exchange Commission (SEC) had previously claimed that XRP was a security when it filed a lawsuit against Ripple Labs, a crypto payment firm, in December 2020. The lawsuit alleged that Ripple had raised $1.3 billion through the sale of XRP, which the SEC argued was an unregistered offering of securities to investors in the U.S. and worldwide.
However, Ripple Labs has been disputing this claim for several years and achieved a partial victory in July 2023. District Court judge Analisa Torres ruled that XRP, by itself, is not a security.
It is unclear why the XRP enthusiast chose to highlight this court decision at Trump’s campaign rally, especially considering that the ruling is already ten months old. Additionally, this promotion came shortly after Trump’s campaign started accepting donations in cryptocurrencies like XRP.
Even before officially welcoming crypto donations, Trump had been a vocal supporter of cryptocurrencies. Just two months ago, he pledged to authorize Bitcoin for payments if re-elected as president. Furthermore, Trump expressed his administration’s intention to avoid unfavorable crypto regulations, such as those seen under the Joe Biden regime with Gary Gensler as the chairman of the SEC. In his own words, “If you have any interest in crypto, you better vote for Trump.”
Disclaimer: This article provides information and should not be considered financial advice. The opinions expressed in this article are solely those of the author and do not reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, and The Crypto Basic holds no responsibility for any financial losses incurred.