Billionaire entrepreneur and popular television personality, Mark Cuban, was among the few voices that strongly backed Ripple Labs and XRP (CRYPTO: XRP) during their years-long legal struggle with the SEC.
What happened: In an X post from July 2023, Cuban criticized the agency’s handling of the lawsuit, specifically their assertion that every buyer of XRP is an investor.
“Securities have one purpose, to be a security. For a DeFi or CEX buyer it’s impossible to know why a buyer buys,” the “Shark Tank” host argued.