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This was the worst possible outcome for the SEC. XRP is basically a centralized blockchain and they did an ICO back in the day. If XRP isn't a security, basically nothing is, and expect a new boom in retail coin offerings.

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On top of the ICO there were some shenanigans with the early ledger (oops our servers ran out of memory), making the whole thing that exists today based on "trust us bro, we promise there’s exactly as many coins as we say there are"

It’s not really exciting, mostly just disappointing they’re still in business, but anyone who wants to learn more can look up: XRPL genesis block

Even better... ask why, after all these years, they still have to use a UNL, despite it being a significant point of centralization.

https://xrpl.org/docs/concepts/consensus-protocol/unl

"trust us, our validators are good too!"

Their "consensus" protocol is an http call to their severs to download a json file of "trusted" servers?

That's two layers of "trust us"!

The "justification" is that anyone can install whatever list they want. Uh huh.

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