Founder and CEO of crypto brokerage firm Prometheum Aaron Kaplan’s support for the SEC in a recent Daily Drop episode stirred the Ripple community’s reaction. In the interview, Kaplan said the United States Securities and Exchanges Commission would win in the Ripple lawsuit.

He likened the ongoing Ripple lawsuit to the SEC’s legal battle against LBRY Credits, noting that the judge ruled in the commission’s favor. 

Kaplan’s View On Ripple Lawsuit

The SEC filed a suit against the content distribution decentralized blockchain platform LBRY Credits in March 2021. The regulator alleged that LBRY violated securities law by offering unregistered LBC tokens.

However, the SEC won the lawsuit after the judge ruled in the agency’s favor. And Prometheum founder Kaplan argued that the SEC lawsuit against Ripple shares a similar cause of facts, noting that he expects the same outcome.

“I anticipate the SEC will win this case as every indication points to a decision in the commission’s favor,” said Kaplan.

Ripple Community’s Reaction

Kaplan’s projection sparked a reaction from several XRP community members who slammed the CEO for his remarks. Most XRP community members charged at Kaplan said he is biased for only highlighting the similarities between the two lawsuits, leaving out the differences.

One XRP community member said:

Is it just me, or does @PrometheumInc CEO Aaron Kaplan look like the ‘poster child’ for Hucksters, fraudsters, and scam artists?

CryptoLaw Attorney John Deaton’s crypto-focused legal and regulatory news outlet also weighed in and

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Author: Eli Dambel

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