Ripple CTO supports Consensys in the SEC lawsuit, stating that MetaMask is not for profit

ChainCatcher news, according to CoinEdition, Ripple's Chief Technology Officer David Schwartz recently expressed support for Consensys in the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against the cryptocurrency company. Schwartz cited the example of luxury diamond company DeBeer, arguing that MetaMask's services are not profit-driven.

Schwartz further elaborated on the investment concepts related to MetaMask, adding that MetaMask's profits are merely the result of external market conditions and user activities, rather than the efforts of Consensys. Additionally, when comparing tokens and securities, he stated, "Tokens governed by smart contracts cannot make all token holders a common enterprise."