Public Criticism for Bloomberg’s Misleading XRP Headline; XRP Community Responds.

Bloomberg’s recent headline regarding Ripple’s XRP token has sparked controversy and misinformation, as the media giant published an inaccurate statement regarding the Securities and Exchange Commission’s (SEC) request for permission regarding the token. Pro XRP lawyer John Deaton and CryptoLawUS quickly pointed out the error and emphasized the importance of factual reporting that could impact financial markets.

The SEC, in its document, clearly stated that it did not seek appellate review on any holding regarding XRP. The request was specifically for an expedited appeal, not related to the security classification of the XRP token. Deaton reiterated this, affirming that the XRP token is not a security.

The case itself has been a drawn-out battle that recently resulted in a $100 million lawsuit over a span of 2.5 years. The ruling determined that only offers and sales of XRP could be classified as securities. This distinction between the token and its sales played a crucial role in Ripple’s victory.

Contrary to Bloomberg’s misrepresentation, the recent filing by the SEC was an expedited appeal request concerning specific decisions by Judge Torres. The complexity of the case led to the misinformation being circulated.

To clarify matters further, Ripple’s Chief Technology Officer David Schwartz acknowledged that the SEC had indeed sought certification, a form of permission to appeal. Schwartz’s input supports the fact that the SEC’s request is different from what Bloomberg reported.

With major news outlets like Bloomberg making mistakes and individuals like John Deaton and CryptoLawUS correcting the narrative, the fight for truth and fairness continues. But the battle is far from over, and the story is still unfolding.

The question arises as to whether Bloomberg should retract the article and issue an apology. Your thoughts and opinions on this matter are welcomed.