Jimmy Vallee, founder of Valhil Capital, is seeking compensation for investors who lost money due to the SEC's lawsuit against Ripple.
Background of the Ripple Lawsuit
In December 2020, after the SEC filed a lawsuit against Ripple, XRP's price plummeted by 75%, reaching $0.17. Many crypto exchanges delisted XRP, leaving investors in a tough spot.
Vallee's Goals and Arguments
Vallee believes that if the lawsuit hadn't happened, XRP's price could have surged like Bitcoin and Ethereum. With the SEC dropping the case, Vallee asserts it is time for XRP holders to be compensated. Valhil Capital, along with the Crypto Justice Coalition, consisting of over 76,000 XRP holders, continues to pursue this goal. John Deaton, an attorney supporting the investors, had previously represented their interests in court.
Alternative Compensation Approaches
Despite speculation about a potential class action lawsuit against the SEC, Vallee and his team do not currently plan to pursue federal litigation. He expresses distrust in the existing system and seeks other ways to secure compensation for investors.
In light of the SEC dropping its case against Ripple, Vallee continues to seek fair compensation for XRP holders, considering alternative approaches to achieve this goal.
