Ripple CTO “Congratulates” Elon Musk On Beating SEC By “Taking XRP Private At $420”


By Yuri Molchan

Chief technology officer of Ripple Labs giant, who has been quite active on Twitter not only on crypto topics recently, has posted a tweet in which he seems to be congratulating Elon Musk.

The tech mogul has been found not guilty by the jury in the case set by the SEC against Musk in 2018 after his “420” Tesla tweet.

But instead of Tesla, Ripple CTO’s tweet is focused on XRP. This tweet is a joke, Schwartz warns just in case.

“I’m taking XRP private at US$420. Funding secured”

As reported by WSJ, the jury found tech magnate Elon Musk not guilty in charges of violating the federal law on securities. The SEC pressed those against the billionaire in 2018 after he posted a tweet saying that he was taking Tesla private at US$420 and funding was secured.

Musk took to his recently purchased Twitter to thank the jury that defended him, saying “thank goodness, the wisdom of the people has prevailed!”

Many who follow the Tesla boss on Twitter sent their congratulations in the comments to the aforementioned tweet.

David Schwartz from Ripple congratulated Musk in his own ironic manner, tweeting “I’m taking XRP private at US$420. Funding secured.”

Ripple’s “fellow SEC victim” wins

It is worth noting that both Ripple and Elon Musk have become targets of the US securities regulator.

The agency initiated a lawsuit against the San Francisco-based fintech firm in December 2020, accusing it, as well as its co-founder and CEO, of making billions of US$ on selling XRP as an unregistered security to institutional investors.

Now, Elon Musk has been found not guilty in the SEC case and the crypto community looks forward to Ripple beating the securities regulator in court this year too.


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