In a recent interview, Fox Business reporter Charles Gasparino’s comments on Judge Torres’ ruling in the Ripple vs. SEC case sparked a heated debate. Gasparino called the ruling “stupid” and faced criticism from crypto market enthusiasts and lawyers. His remarks not only sparked controversy, but also revealed different perspectives on the case’s effects on the crypto industry.
Charles Gasparino criticizes Ripple verdict
New York Post columnist and FOX Business Senior Correspondent Charlie Gasparino recently appeared on Anthony Pompliano’s podcast. Gasparino made harsh comments about the SEC’s handling of the Ripple case, calling the regulation unnecessary. In a recent interview with Anthony Pompliano, Gasparino criticized Judge Torres for allegedly setting a precedent for less disclosure for individual investors compared to institutions. Describing the judge’s decision as “stupid,” Gasparino argued that it could harm the protection of retail investors. However, crypto influencer Tony Edward countered this viewpoint, accusing Gasparino of being biased. Edward said Gasparino’s stance shows that he “wants Ripple to lose.”
Judge Torres made it clear that secondary market sales are not securities because many investors would not know who Ripple is.” Edward also underscored the legitimacy of the court’s distinction, noting that investors in secondary markets often have no ties to Ripple. In addition, attorney Bill Morgan offered a different perspective, arguing that Gasparino lacked understanding of the case. He emphasized that the ruling only addressed Ripple’s programmatic sales, not all secondary market transactions. Morgan said the following:
As for Charles Gasparino, it is quite clear that he does not understand XRP or crypto.
The lawsuit focuses on
Gasparino has consistently criticized the SEC’s approach, accusing the agency of misplacing its priorities. He highlighted the leniency shown to names like Sam Bankman-Fried while Ripple faced aggressive scrutiny. According to him, this selective enforcement reflects regulatory overreach. Gasparino lamented that despite recognizing Ripple’s technological potential, it has been forced to shift overseas due to unclear US regulations. In the latest XRP news, Ripple CEO Brad Garlinghouse echoed similar frustrations, calling the SEC’s actions an industry-wide threat.
He argued that the agency’s failure to provide clear guidance is hindering innovation in the US crypto sector. Meanwhile, the focus on the XRP case has intensified with a key deadline looming next month. In addition, speculation is mounting as to whether the new US SEC Chair will drop the ongoing Ripple vs. SEC case. Notably, Ripple’s partial victory in 2023 brought relief to the XRP community. The court ruled that secondary market sales of XRP are not securities, separating these transactions from direct institutional sales.
However, the US SEC appealed again, further fueling speculation. Despite this, market sentiment remains strong, especially as Donald Trump’s election win has fueled optimism about a pro-crypto regulatory environment in the US.
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