Legal Expert Discredits XRP Escrow Dump Theory, Cites SEC’s Stance
Main Idea
Legal expert Bill Morgan refutes the theory that Ripple dumps XRP from its escrow to suppress prices, citing the SEC's recognition of the escrow's role in stabilizing XRP's price.
Key Points
1. Bill Morgan dismisses the 'escrow dump theory,' arguing that Ripple's escrow system is designed to stabilize XRP's price, not suppress it.
2. The SEC acknowledged that Ripple's escrow mechanism was intended to prevent price deflation, supporting Morgan's stance.
3. Ripple's escrow system, established in 2017, locks 55 billion XRP and releases 1 billion monthly, with unused tokens returned to escrow.
4. Morgan emphasizes the transparency of Ripple's XRP holdings and distribution, countering claims of market dumping.
5. Despite regulatory scrutiny, the SEC did not accuse Ripple of using the escrow to harm investors or manipulate XRP's price.
Description
Prominent Australian legal expert and XRP advocate Bill Morgan has issued a sharp rebuttal to the persistent belief that Ripple’s escrow system is being used to suppress XRP prices by systematically dumping tokens on retail investors. In a recent thread on X, Morgan cited both historical data and regulatory findings to dismantle what he labeled the “moronic escrow dump theory.” Ripple’s Escrow: Then and Now Morgan began his commentary by posting a side-by-side comparison of Ripple’s XRP escrow h...
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