Influential crypto analyst Ben Armstrong, better known as Bitboy Crypto, has made waves with his controversial take on the Ripple-SEC lawsuit. Armstrong believes the entire legal battle was orchestrated to pave the way for XRP’s integration into the traditional financial system.
In a recent interview with Thinking Crypto, Bitboy asserted that the outcome of the case was predetermined, with Ripple emerging as the victor and XRP gaining a stamp of legitimacy. He argued that the $125 million settlement imposed on Ripple was merely a smokescreen to create the illusion of a genuine legal battle.
“There was 0% chance ever that this was not going to go Ripple’s way,” Bitboy stated. “It needed to be regulated. Everything has to look normal.”
The analyst believes the lawsuit was a carefully crafted strategy to position XRP as a compliant cryptocurrency, making it more palatable for banks and financial institutions. By subjecting XRP to a seemingly rigorous legal process, the cryptocurrency gained a veneer of credibility that could expedite its adoption.
Bitboy emphasized that the removal of the SEC lawsuit is a significant catalyst for XRP’s future growth. With this legal cloud lifted, the cryptocurrency can now focus on expanding its market reach and building partnerships without the constant threat of regulatory uncertainty. Despite facing delisting from several exchanges and enduring the legal battle, XRP has managed to maintain its position in the top 10 cryptocurrencies by market capitalization, a testament to its resilience.
Armstrong’s claims have sparked debate within the crypto community, with some agreeing with his assessment and others expressing skepticism. Regardless of the veracity of his claims, the Ripple-SEC case has undeniably had a profound impact on the cryptocurrency industry, and its outcome will continue to shape the regulatory landscape for digital assets.
Also Read: Ripple vs. SEC Lawsuit Update – Closed-Door Meeting Cancelled Again!
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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