Ripple lawyer, Fred Rispoli, recently took to social media platform X (formerly known as Twitter) to discuss the ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple. In his post, Rispoli suggested that the highly anticipated trial between the SEC and Ripple executives might never happen. According to the lawyer, the SEC’s decision to sue Ripple’s top executives, Brad Garlinghouse and Chris Larsen, was simply a strategy employed by the regulatory body to pressure Ripple into a weaker settlement position.
Rispoli provided several reasons why he, along with many other Ripple supporters, believes that the trial will not take place. One such reason is the idea that key SEC members, such as Hinman and Clayton, would be put on the witness stand and potentially tied to their roles in the “Trump Administration.” This potential association with a controversial administration may not bode well for the SEC’s case in the eyes of a jury in New York City.
Furthermore, Rispoli argued that the SEC lacks a strong argument, as the regulator cannot prove recklessness in regards to institutional sales when attorneys on the stand could simply point out that programmatic sales are legal. In addition, the evidence of domestic sales versus international sales is weak for the SEC to rely on as supporting evidence.
Another factor potentially influencing whether the trial takes place is the SEC’s recent reorganization of its trial team. With multiple back-to-back trials against other institutions, the SEC will need to divide its attention and resources. This diversion of focus allows the SEC to file for an appeal, potentially indicating that they have no bargaining chips left if their appeal is denied.
Related Post
Rispoli suggested that the SEC, as a government body with seemingly endless access to funds, has the advantage of waiting until the last minute to make an appearance in court. This waiting game can be costly for Ripple, as they will continue to accumulate legal fees while the SEC determines its strategy. Rispoli emphasized the need for both parties to come to the settlement table to avoid wasting money on legal fees.
In the meantime, market players are eagerly awaiting the outcome of the legal battle, as it may have a significant impact on the price of the XRP token. Many hope for a positive resolution that could potentially trigger a price pump for Ripple’s native cryptocurrency.
It is important to note that the information provided in this article is for informational purposes only and does not constitute financial advice. Readers should conduct their own research and exercise caution when making investment decisions related to cryptocurrencies.
Disclaimer: This article does not endorse any specific product, service, or investment mentioned. Crypto News Flash is not responsible for any damages or losses incurred as a result of relying on the information provided in this article. Readers should always do their own research before making any investment decisions.
