比尔·摩根 (Bill Morgan) 和弗雷德·里斯皮 (Fred Rispi) 参与 SEC 对 Ripple 的上诉

律师兼 XRP 的著名支持者比尔·摩根 (Bill Morgan) 对美国证券交易委员会 (SEC) 对 Ripple 持续上诉的成功机会表示怀疑。

Bill Morgan, a lawyer and a prominent supporter of XRP, has expressed doubts about the U.S. Securities and Exchange Commission’s (SEC) chances of success in its ongoing appeal against Ripple.

比尔·摩根 (Bill Morgan) 是一名律师，也是 XRP 的著名支持者，他对美国证券交易委员会 (SEC) 对 Ripple 持续上诉的成功机会表示怀疑。

The SEC is appealing a ruling by Judge Analisa Torres, who declared in July 2023 that XRP, the native token of Ripple, is not a security. The agency is seeking to overturn this decision, particularly focusing on Ripple’s programmatic sales of XRP.

美国证券交易委员会正在对法官 Analisa Torres 的一项裁决提出上诉，该裁决于 2023 年 7 月宣布 Ripple 的原生代币 XRP 不是证券。该机构正在寻求推翻这一决定，特别关注 Ripple 的 XRP 程序化销售。

Bill Morgan’s Take On SEC Appeal Against Ripple

比尔·摩根对 SEC 针对 Ripple 的上诉的看法

On his Twitter account, Morgan voiced his opinion on the SEC’s appeal, stating that the agency is trying to “convince a court in its appeal that Judge Torres got it wrong” by arguing that programmatic buyers of XRP expected profits from the blockchain company’s efforts.

摩根在他的推特账户上表达了他对 SEC 上诉的看法，表示该机构正试图“在上诉中说服法院，托雷斯法官弄错了”，辩称 XRP 的程序化买家期望从区块链公司的努力中获利。

He pointed out that the SEC’s own expert testimony on this matter was not allowed and that there is a significant lack of evidence supporting the agency’s claims.

他指出，美国证券交易委员会自己对此事的专家证词是不被允许的，而且支持该机构说法的证据严重缺乏。

And yes, you can assume I do not think the SEC will succeed in an appeal on Ripple’s programmatic sales of XRP https://t.co/4HMQjAP2uX

是的，你可以假设我认为 SEC 对 Ripple 的 XRP 程序化销售上诉不会成功 https://t.co/4HMQjAP2uX

— bill morgan (@Belisarius2020) October 8, 2024

— 比尔·摩根 (@Belisarius2020) 2024 年 10 月 8 日

According to Morgan, “the evidence before the court of many actual investors was that they did not rely on Ripple’s efforts or even knew about Ripple.” He further emphasized that the SEC’s argument is built on a hypothetical legal fiction, rather than real investor behavior. “No reasonable investor can expect profits from Ripple’s efforts,” Morgan noted.

摩根表示，“许多实际投资者在法庭上得到的证据是，他们并不依赖 Ripple 的努力，甚至不了解 Ripple。”他进一步强调，美国证券交易委员会的论点是建立在假设的法律虚构之上，而不是真实的投资者行为。 “任何理性的投资者都不能指望从 Ripple 的努力中获利，”摩根指出。

He added that the SEC will nonetheless attempt to argue that a hypothetical investor from 2019 may have based their XRP purchase on a blog post from 2014. Moreover, Morgan confidently stated, “you can assume I do not think the SEC will succeed in an appeal on Ripple’s programmatic sales of XRP.”

他补充说，尽管如此，美国证券交易委员会仍将试图辩称，2019 年的假设投资者可能是根据 2014 年的一篇博客文章购买了瑞波币。此外，摩根自信地表示，“你可以假设我认为美国证券交易委员会不会在上诉中取得成功”关于 Ripple 的 XRP 程序化销售。”

Another Lawyer Weighs In

另一位律师介入

Fred Rispoli, another lawyer who supports XRP and is also known as XRP Fred, weighed in on the SEC’s appeal, focusing on the agency’s emphasis on programmatic sales.

另一位支持 XRP 的律师 Fred Rispoli（也称为 XRP Fred）对 SEC 的上诉发表了意见，重点关注该机构对程序化销售的重视。

According to Rispoli, these sales, which refer to the firm selling XRP on exchanges, are critical to the case.

Rispoli 表示，这些销售是指在交易所出售 XRP 的公司，对于此案至关重要。

He further warned that a victory for the SEC in this area could have broader implications, potentially leading to lawsuits against major crypto exchanges like Coinbase and Kraken.

他进一步警告说，SEC 在这一领域的胜利可能会产生更广泛的影响，可能导致针对 Coinbase 和 Kraken 等主要加密货币交易所提起诉讼。

“As soon as they win, they’re filing that case and the Coinbase case and the Kraken case,” Rispoli cautioned in an interview with Tony Edward.

“一旦他们获胜，他们就会立案审理该案、Coinbase 案和 Kraken 案，”里斯波利在接受托尼·爱德华 (Tony Edward) 采访时警告说。

Despite the SEC’s legal strategy, Rispoli remained cautiously optimistic about the blockchain firm’s chances of success. He predicted a “70-30 in Ripple’s favor,” depending on the panel of judges assigned to the case. However, he acknowledged that the outcome could vary significantly if the judges are biased against Ripple.

尽管美国证券交易委员会采取了法律策略，里斯波利仍然对区块链公司的成功机会持谨慎乐观态度。他预测“Ripple 会以 70 比 30 获胜”，具体取决于分配给该案的法官小组。然而，他承认，如果法官对 Ripple 存在偏见，结果可能会大不相同。

For context, the SEC filed its formal notice of appeal on October 2, continuing the legal battle over whether XRP should be classified as a security.

作为背景，SEC 于 10 月 2 日提交了正式上诉通知，继续就 XRP 是否应被归类为证券进行法律斗争。

However, legal experts believe that the agency should have accepted the penalty imposed on the Web3 firm instead of appealing. Currently, the chances of the regulator’s win are slim and if Republican presidential candidate Donald Trump wins the November elections, the case could be worsened as he has vowed to fire SEC Chair Gary Gensler.

然而，法律专家认为，该机构应该接受对Web3公司的处罚，而不是上诉。目前，监管机构获胜的机会很小，如果共和党总统候选人唐纳德·特朗普赢得 11 月的选举，情况可能会变得更糟，因为他发誓要解雇 SEC 主席加里·詹斯勒 (Gary Gensler)。