As token costs plunge and Ripple prepares for court, a band of XRP enthusiasts have rallied around a petition that might require a White House declaration on the recent SEC claim alleging Ripple carried out an unregistered securities offering. A petition filed on the White House-run We the People website entitled “We the People ask the federal government to deem XRP, the virtual currency, a currency,” has actually now crossed 10,000 signatures. Produced by the Obama administration in 2011, We individuals enables users to develop petitions that, upon reaching 100,000 signatures within 30 days, will trigger an official White House response. While much of the petitions are serious, the platform has actually been home to more than one lark: one of the most well-known petitions required the building of a Death Star.The XRP petition, developed by “J.W.”, calls for the SEC to “stop” its “pointless” claim, referencing a previous FinCEN decision that XRP is a currency. The petition also recommendations XRPs rapidly-deteriorating marketcap– a drawdown that TheTIEs Joshua Frank has called the “third largest collapse of all-time”– in addition to the “hundreds of thousands of normal Americans” who are “suffering permanent harm and damages.” XRPs market cap has actually fallen by 93% from $137B to under $10B. That makes the value of the XRP collapse larger than Enron and Worldcom.
While not a personal bankruptcy, XRP is effectively the third biggest collapse of perpetuity behind Lehman Brothers and Washington Mutual.– Joshua Frank (@Joshua_Frank_) December 30, 2020
The petition effort comes as Ripple prepares for a February pretrial conference, the first of what might prove to be a contentious and long legal procedure. As the legal process moves forward, petition signers find themselves with few choices.” Title: XRP lovers seek to require White Houses hand on SEC suitSourced From: cointelegraph.com/news/xrp-enthusiasts-seek-to-force-white-house-s-hand-on-sec-suitPublished Date: Sat, 02 Jan 2021 16:05:30 +0000