XRP community reacts as Buterin wishes crypto entities victory in SEC lawsuits

Members of the XRP community are responding as Ethereum founder Buterin says he hopes for a favorable outcome for crypto entities in the SEC lawsuits.

Ethereum founder Vitalik Buterin recently voiced his displeasure with the US SEC’s recent crackdown on the crypto industry, noting that he hopes for a fair outcome in the regulator’s lawsuits. However, the XRP community has not received these comments positively.

Recall that the SEC recently filed suit against Binance And Coin base, the two largest crypto exchanges in the world. The agency alleged that both platforms facilitated trading in unregistered securities, among other things.

To present a good argument, the SEC stated various crypto assets it believes they are “unregistered securities”. These assets include Cardano (ADA), Solana (SOL), Polygon (MATIC), and Algorand (ALGO).

Buterin hopes for a fair outcome

When asked about his thoughts on how the United States is approaching crypto regulation, Buterin commented that he thinks it’s appalling that crypto projects like Solana are involved in the SEC’s crackdown.

The only comment I will make is that I feel bad about that @solana and other projects are affected in this way. They don’t deserve it, and if ethereum ends up “winning” by all the other blockchains getting kicked off exchanges, that’s not an honorable way to win, and in the long run…

— vitalik.eth (@VitalikButerin) June 30, 2023

“They don’t deserve it, and if ethereum ends up “winning” by all the other blockchains getting kicked off exchanges, that’s not an honorable way to win, and in the long run it’s probably not even a win,” he added.

The founder of Ethereum rightly stressed that the real competition is not between blockchain protocols, but between crypto and the traditional centralized finance scene trying to force itself on the crypto industry.

In this case, if Ethereum achieves substantial notoriety by standing tall while other exchange assets get booted, it wouldn’t feel like a true win. “I wish all honorable projects a fair outcome in this whole situation”, Buterin concluded.

XRP community responds

Despite his latest comments seemingly suggesting support for affected crypto entities, the XRP community has not received them positively. This unfavorable reception is mainly due to that of Buterin previous comments about the Ripple vs. SEC lawsuit.

Pseudonymous XRP community influencer Digital Asset Investor urged the community not to be fooled by the Ethereum founder’s recent comments. The influencer claimed that it is now common knowledge that Buterin knew about the plan to create a monopoly for Ethereum.

Don’t be fooled. Buterin knew the plan to try and create a monopoly for Ethereum. We have the receipts. https://t.co/vjdeI0Bd4V pic.twitter.com/O5cc9FxCr3

— Digital asset investor (@digitalassetbuy) June 30, 2023

Digital Asset Investor’s response was prompted by revelations made with the release of Hinman’s documents on June 13.

In particular, the documents suggest that former SEC director Bill Hinman made plans to speak with Buterin about how the Ethereum Foundation works, as he wanted to focus his speech on Ethereum and how the network has achieved sufficient decentralization.

Another member of the XRP community referred recent revelations linking Buterin to the Chinese entity Wanxiang Holdings. Fox journalist Eleanor Terrett discovered ties between Buterin, Wanxiang Holdings and Prometheum in a web of connections, The Crypto Basic reported last week.