XRP Holders Say SEC's Ripple Suit Has Cost Them $15B

Law360 (March 15, 2021, 7:17 PM EDT) — Investors in Ripple’s digital asset, XRP, have asked to intervene in the U.S. Securities and Exchange Commission’s suit in New York federal court against the cryptocurrency company, saying the agency isn’t pursuing the interests of investors, who stand to lose billions from the enforcement action.

Jordan Deaton and five other investors slammed the SEC’s closely-watched suit against Ripple Labs Inc., saying it had caused the value of their investments to plummet. They argued that investors should have separate representation in the suit, saying the SEC wasn’t acting in their best interest by pursuing the suit.

“Instead of protecting investors and sharing…

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