Cardano founder Charles Hoskinson has admitted that he will end up with egg on his face if there is no settlement in the lawsuit between the U.S. Securities and Exchange Commission (SEC) and Ripple this Thursday.
As reported by U.Today, Hoskinson said that he had heard rumors about a possible settlement between the SEC and Ripple. In fact, he named a specific date (Dec. 15) while predicting that the outcome of the two-year-long court case would have disastrous consequences for the cryptocurrency industry.
After Hoskinson's seemingly offhanded comment ignited plenty of speculation, he clarified that it was just a rumor he picked up from another unnamed source.
Earlier this week, cryptocurrency-friendly politician January Walker warned that a potential settlement in the Ripple case could have dire consequences for the broader cryptocurrency industry.
Last month, James K. Filan, the former federal prosecutor who has been closely tracking the Ripple case for a long time, predicted that the case would be resolved on or before March 31, 2023. Hence, it is highly unlikely that the lawsuit will be resolved before the end of the year.
As reported by U.Today, Ripple CEO Brad Garlinghouse himself predicted that the lawsuit would be resolved in the first half of 2023. Garlinghouse also previously mentioned that the SEC would have to recognize XRP as a nonsecurity for a potential settlement.
Ripple was sued in December 2020 for allegedly offering the controversial XRP token as an unregistered security.
Tomiwabold Olajide
