The lawsuit filed by the US Securities and Exchange Commission (SEC) last December is still ongoing and the target of this lawsuit may not be just Ripple. Of course, XRP was the first to fall in the lawsuit filed against Ripple, which claimed $ 1.4 billion in damages. On the other hand, the aggressive behavior of the SEC that followed, as can be expected, affected the entire crypto money industry and some crypto money projects were sued.
O’Leary Didn’t Prefer XRP
Even after the disclaimer of the Coinbase cryptocurrency exchange, many prominent names in the cryptocurrency industry may have realized that the SEC wanted to target the industry in general.
Kevin O’Leary also hinted at this in his statement on the subject. The Shark Tank star stated that he wants to invest in cryptocurrencies, but has no goal of investing in cryptocurrencies associated with lawsuits. O’Leary emphasized that he would not risk investing in the XRP that the SEC is suing.
Stating that investing in a crypto currency that the SEC has sued for is a “very bad idea”, the star name emphasized that the best solution is to wait for the regulator to finish his job. O’Leary stated that it will become clear over time who is right in the case or not.
XRP suffered a serious drop as the lawsuit continued and became one of the rare altcoins that failed to break the all-time record in 2021.