XRP is being sued by the SEC, and it's about time.

The number 3 "cryptocurrency" (HOW?) took a huge hit as the SEC levied a lawsuit deeming XRP an unregistered security, not a cryptocurrency. Ripple was obviously shaken, as they began doing damage control before news of the lawsuit even became public. Most people actually heard about it from Ripple first, not the government.

For those in the know, XRP has long been known as a pump and dump. Their only "product," on-demand liquidity, was useless at worst, superfluous at best. Bankers literally laughed it out of their offices. News circulated that Ripple actually paid money transmitters to use XRP, and even with that, adoption was extremely low.

CEO Brad Garlinghouse is what Jaime Dimon always wanted to be. Garlinghouse was conducting insider trading without even being inside. The fact he was selling millions of tokens while encouraging retail investors to hold is quite public. Providing that indisputable record is perhaps the only thing that the XRP ledger is good for.

I'm disappointed that public sentiment didn't turn on XRP and Ripple until the SEC lawsuit. Government will undoubtedly use this case as an excuse to clamp down on the rest of the crypto market (even though XRP is not a cryptocurrency), claiming that investors are basically too stupid to police their own markets. With a mob of people pushing up the price of Brad Garlinghouse's pump and dump 3X in the past few weeks, it's hard for me to argue with them. A lot of you guys are fucking idiots. Every Youtube shill that focuses on XRP or Ripple looks like a greasy used car salesman.

But this is what you get with centralized finance in an unregulated market. You get the full measure of people's greed and plenty of morons to encourage it. But Garlinghouse is especially bad. At least with ponzi schemes like Axion, the CEO doesn't lie like the token has an actual use case.

Hopefully exchanges will delist the fuck out of XRP so that we can clear out the top 10. Any list with an admitted scam in its top 10 should be ashamed of itself. Kind of like listing Britney Spears in your top 10 singers.

But more importantly, I think it's vitally important to clear out all of these centralized non-crypto cryptocurrencies out of the market. We already know that we can't trust most individuals with power over others. Even those who would be responsible with power can admit that decentralized, code-based arbiters are simply a better solution. Code doesn't have a bad day and decide to behead honest actors on a whim. Code doesn't respond to politics. Code doesn't have the ability to be greedy or to outright lie.

The entire purpose of crypto is to get rid of middlemen like Garlinghouse and garbage like XRP. Let the SEC put this loser out of a job. (He's going to get a slap on the wrist, by the way. He's too rich to really get punished, and that wealth came from you.) But we shouldn't rely on the SEC to get the rest of the scam artists out of our space.

For the sake of us all, let's make XRP the last gasp of centralized finance.