XRP Holders Petition Advises SEC to Investigate its Former Boss and Drop Ripple Lawsuit

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XRP Holders Petition Advises SEC to Investigate its Former Boss and Drop Ripple Lawsuit
XRP Holders Petition Advises SEC to Investigate its Former Boss and Drop Ripple Lawsuit

The Change.org petition for XRP holders urging the SEC to abandon Ripple’s lawsuit and investigate its former boss, Jay Clayton, has received more than 30,000 signatures.

XRP Holders to Submit Petition 

Crypto & Policy founder Thomas Hodge wrote that he will now be sent to SEC chairman Gary Gensler:

“I am closing the petition and preparing the final document with all the signatories to electronically submit to SEC Chairman Gensler later today.”

As reported by Fxcryptonews, the petition was drawn up in April and regulators are accused of starting a war against XRP owners.

Because of a potential conflict of interest, this sparked conspiracy theories about former SEC chairman Jay Clayton and former SEC senior attorney William Hinman.

Last month, attorney John Deaton also filed a motion to intervene on behalf of XRP holders that has been challenged by the US Securities and Exchange Commission.

“XRP is Cleaner Than Bitcoin”: A Statement Pomp Cannot Contradict

On Thursday, well-known entrepreneur, investor and Bitcoin influencer Anthony Pompliano (aka Pomp) discussed on CNN, Elon Musk’s sudden abandonment of buying Tesla cars in exchange for Bitcoin.

The host Julia Chatterley believes that currencies like XRP or Ethereum are non-degradable and therefore “cleaner” and “more environmentally friendly” than Bitcoin, which Pompliano did not oppose. It can be defeated by the argument that money is stored as energy.

Although he gave a long speech, about 75% of BTC miners using some sort of renewable energy sources to make bitcoin, and 50% of them only use renewable energy to produce bitcoin, but Julia reminded Pomp that cryptocurrencies like XRP don’t require mining at all so it doesn’t waste energy, renewable or not.

She also mentioned Ethereum. However, ETH is a mined PoW (Proof-of-Work) cryptocurrency. It is only planned to switch to the PoS (Proof-of-Stake) algorithm when the blockchain fully implements all phases of the Ethereum 2.0 upgrade.