• Popular crypto analyst Lark Davis says he won’t buy XRP even if Ripple wins its case against the SEC.
• Davis also slammed Cardano (ADA), saying it has managed to stay in the top 10 cryptocurrencies despite not deserving it.
• Davis believes Cardano has little decentralized finance infrastructure, very few retail dApps that are operational, and an average of just 70,000 transactions per day.

Cryptocurrency expert and investor Lark Davis has recently voiced his opinion on two popular tokens: XRP and Cardano (ADA). Davis, who is known for his expertise in the field, stated that he does hope Ripple wins its case against the Securities and Exchange Commission (SEC). However, he also made it clear that he will not be investing in XRP despite the outcome of the case.

In addition to that, the analyst also had some harsh words for Cardano (ADA), criticizing the token for its continued presence in the top 10 cryptocurrencies despite not really deserving it. According to Davis, Cardano has almost no decentralized finance infrastructure, very few retail dApps that are operational, and an average of just 70,000 transactions per day. This, he believes, is not enough to justify its continued presence in the top 10 cryptocurrencies.

Davis’ comments have sparked an intense debate among the crypto community, with some people supporting his opinion and others arguing that Cardano has potential to make a comeback. However, the fact remains that the token has been struggling for some time now and it remains to be seen if it can regain its lost ground in the coming days. As for Ripple and XRP, the legal battle is still ongoing and it will be interesting to see how the situation develops. Despite all this, Davis has made it clear that he will not be investing in XRP regardless of what happens.

• Blockchain lawyer John E. Deaton believes that the SEC will not be granted summary judgment on whether Ripple executives engaged in illegal XRP sales.
• Deaton argues that the SEC should have informed Ripple executives that XRP is a security during the three meetings they had.
• The blockchain lawyer believes that the jury will have an easy time deciding against the SEC on this matter.

The legal battle between Ripple and the Securities and Exchange Commission (SEC) over the sale of XRP is heating up. Ripple CEO Brad Garlinghouse recently criticized the SEC for classifying Ethereum as a non-security and Ripple as a security. Now, prominent blockchain lawyer and founder of crypto-laws.us, John E. Deaton, has come to Ripple’s defense and argued that the SEC will not be granted summary judgment on whether Ripple executives engaged in illegal XRP sales.

Deaton believes that the SEC should have informed Ripple executives that XRP is a security during the three meetings they had. In response to a challenge in the comment section that Ripple should have taken advice from its legal team on whether XRP is a security or not, Deaton argued that Ripple had no way of knowing that XRP was a security without the SEC informing them. He believes that this will be a major factor in the jury’s decision, as it will be easy for them to find in favor of Ripple.

Ultimately, Deaton believes that Ripple will eventually win against the SEC in this legal battle. He argued that the SEC should have been more explicit in their warnings to Ripple executives and that the jury will likely find in favor of Ripple based on this fact. As the legal battle between Ripple and the SEC continues, it will be interesting to see if Deaton’s predictions come true.

• Ripple CEO Brad Garlinghouse recently revealed that the blockchain payments company had exposure to FTX, leasing around $10 million in XRP to the now-defunct crypto exchange.
• Last November, FTX and over 130 companies filed for bankruptcy protection after a bank run exposed an estimated $8 billion hole in its balance sheet.
• Ripple frequently gives short-term XRP leases to market makers and XRP participants for sales, typically returned to Ripple.

Ripple, the blockchain payments company, has recently been exposed to the now defunct crypto exchange FTX. In a recent fireside discussion on CNBC’s Tech Transformers at Davos, Ripple CEO Brad Garlinghouse revealed that the company had leased around $10 million in XRP to FTX. He stated that Ripple is hopeful to receive some or all of it back through the bankruptcy process but noted that it is not too consequential to the business as it only represented 1% of Ripple’s liquid assets.

The financial trouble that Ripple encountered with FTX began last November, when the exchange and over 130 companies filed for bankruptcy protection after a bank run exposed an estimated $8 billion hole in its balance sheet. In just 24 hours, the company’s value fell from nearly $32 billion to $1.

Ripple typically gives short-term XRP leases to market makers and XRP participants for sales. These leases are typically returned to Ripple upon expiration. However, with the fraud that Sam Bankman-Fried allegedly committed, it is unclear what the company will receive from the lease.

In the meantime, Ripple’s conflict with the SEC persists as the legal battle drags on, with the latest development being the SEC’s motion to deny the motion to dismiss that was filed by Ripple. While there is still uncertainty surrounding the future of Ripple, the company and its CEO remain hopeful that it will be able to recover its exposure to FTX and come out on top.