Dogecoin Co-Founder Says If XRP Isn't Security, 'There Ain't Much That Would Be'

Dogecoin DOGE/USD co-founder Billy Markus, known by his pseudonym Shibetoshi Nakamoto, on Wednesday shared his thoughts on the impact of the XRP court ruling. 

What Happened: When asked by a Twitter user whether the crypto market was moving due to the XRP news or the recent Twitter airdrops, Markus responded, “Definitely the XRP news, because if XRP isn’t a security, there ain’t much that would be.”

The SEC had filed a lawsuit against Ripple Labs, accusing the company and its top executives of conducting a $1.3 billion unregistered securities offering. However, the court’s summary judgment favored Ripple Labs, stating that XRP is not a security.

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Why It Matters: This decision has marked a significant turning point in the legal battle between Ripple and the SEC. 

It is worth noting that the SEC has identified 19 other cryptocurrencies as securities in lawsuits against popular platforms such as Binance and Coinbase. 

Tokens listed as securities in the lawsuit against Binance include Cosmos ATOM/USD, Binance Coin BNB/USD, Binance USD BUSD/USD, COTI COTI/USD, Solana SOL/USD, Cardano ADA/USD, Polygon MATIC/USD, Filecoin FIL/USD, and more.

Price Action: At the time of writing, DOGE was trading at $0.070 up 9% in the last 24 hours, data from Benzinga Pro shows.

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