❗ terra_money’s attempt to capitalize on Ripple's precedent has been rejected! Could this have consequences for Ripple Labs’ court case? Read more here -
One of the most high-profile cases of total collapse in the crypto industry ever, Terraform Labs’ sudden implosion last year, left government regulators in both South Korea and the USA scrambling to sort out the mess.into the dealings of TFL’s former C-suite and those of the exchange they ran, the platform’s legal team in the U.S. attempted to capitalize on Ripple’s recent headway against the SEC.
Furthermore, the Judge added that both retail and institutional investors had this expectation, nixing the argument that those purchasing tokens from secondary markets were not buying securities.“Simply put, secondary-market purchasers had every bit as good a reason to believe that the defendants would take their capital contributions and use it to generate profits on their behalf.”the distinction irrelevant.Although the U.S.
“The court declines to draw a distinction between these coins based on their manner of sale, such that coins sold directly to institutional investors are considered securities and those sold through secondary market transactions to retail investors are not. In doing so, the court rejects the approach recently adopted by another judge of this district in a similar case.
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