Crypto Influencer Lark Davis Supports Ripple In The SEC Case, But That’s Where It Ends.
Davis echoes the views of the majority of the crypto community, but with a caveat.
In a tweet today, crypto influencer and YouTuber Lark Davis with above 1M subscribers expressed his desired outcome in the US Securities and Exchange Commission (SEC) case against Ripple.
Recall that the SEC filed a complaint against Ripple and its executives in December 2020 for engaging in the offer and sale of XRP, which it alleged represented unregistered security.
Per the tweet today, Davis wants a Ripple win. However, the influencer remains adamant that he is still not buying any XRP. The influencer says this despite predicting in November that the asset’s price would experience a massive rally if Ripple wins the case.
“I hope that XRP wins their court case… but I am still not going to buy it,” Davis wrote.
I hope that #XRP wins their court case… but I am still not going to buy it.
— Lark Davis (@TheCryptoLark) January 27, 2023
It is worth noting that the influencer does not think highly of the 6th largest crypto by market cap and the 4th largest, excluding stablecoins. In December 2021, Davis described XRP as the “most disappointing coin in the top 10,” asserting it no longer belongs there. Last November, he called XRP’s value into question after JPMorgan used MATIC on Aave to execute a foreign exchange transaction.
Notably, last November’s comments attracted a harsh response from Attorney John Deaton, who suggested that the influencer did not know the difference between Ripple and XRP.
Consequently, it is no surprise that there is no love lost between several members of the XRP community and the YouTuber. In response to his tweet today, many have expressed that they do not care about his opinion. Others have asserted that he still does not know the difference between XRP and Ripple.
Meanwhile, it bears mentioning that Davis echoes the view of most participants in the crypto space. As previously reported, several pundits have recently voiced support for Ripple, championing an outright Ripple win as the best possible outcome. This is because it is believed that it would force the SEC to create clear rules for the crypto space and discontinue its campaign of regulation through enforcement.
Conversely, the crypto community expects a bloodbath if Ripple loses, as SEC chair Gary Gensler has continued to assert that most cryptos except Bitcoin are securities.