Ripple CTO David Schwartz recently voiced his support for the company in a lawsuit filed by the Securities Exchange Commission (SEC) against cryptocurrency firm Consensys. Citing the diamond market as an example, Schwartz argued that MetaMask's efforts were not profit-driven.
In his argument for Consensys, Schwartz cites the example of DeBeer, the luxury diamond company. He says MetaMask's activities do not determine users' profits, noting that DeBeer's activities are not profit-focused. "MetaMask's efforts do not determine users' profits, just as DeBeer's efforts do not determine the profits of people who own diamonds," he quotes.
Schwartz further elaborated on the investment concept related to MetaMask, adding that MetaMask's profits are only the result of external market conditions and user activity, not Consensys' efforts. Moreover, when comparing tokens and securities, he argued that "tokens managed by smart contacts cannot make all holders a common enterprise."
Ripple CTO: MetaMask's services are not for profit
2024-06-30 05:35:08
Ripple chief technology officer david schwartz recently us securitiesdesk3cryptocurrencydesktopCrypto News
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
Ripple CTO：MetaMask的服务并非以盈利为目的Next article：
Parallel Network：提现功能将于7月2日推出
