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Ripple Lawsuit: Here's Motion Filed on Much-Speculated Settlement Date

Fri, 12/16/2022 - 11:58
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Tomiwabold Olajide
Members of XRP community continue to keep their fingers crossed
Ripple Lawsuit: Here's Motion Filed on Much-Speculated Settlement Date
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Over the weekend, rumors of a possible settlement in the Ripple lawsuit began to swirl. Cardano founder Charles Hoskinson mentioned the rumors, stating that he learned of a possible settlement between Ripple and the SEC on Dec. 15. He predicted that the outcome of the legal battle might have disastrous consequences for the cryptocurrency industry.

While reports from different angles indicated that the rumors were false, the fact that Ripple did not put out an official report to quell the rumors made some believe that a settlement might be imminent. Members of the XRP community continue to keep their fingers crossed for a positive resolution of the lawsuit. As a result, many people expected the lawsuit to be concluded on Dec. 15.

David Gokhshtein, a crypto enthusiast and founder of Gokhshtein Media, who had followed the case closely, tweeted, "Wasn't it today that it was rumored that there might be a settlement announcement in the SEC vs. Ripple case?"

Cardano founder Charles Hoskinson likewise admitted that he might end up with "egg on his face" if there was not any settlement in the lawsuit as rumored.

Cardano Founder Says He Might End Up with Egg on His Face If Ripple Lawsuit Resolution Doesn't Come

Few were surprised by the Dec. 15 filing, which was shared by James K. Filan: that of Attorney Rodrigo Seira, who filed a Motion to Appear Pro Hac Vice on behalf of Amicus Curiae Paradigm Operations LP.

As explained by Attorney Jeremy Hogan, Paradigm Operations, which submitted an amicus brief in support of Ripple, filed the motion for its in-house attorney to take over, which might be a move to save on costs.

In November, rumors of a settlement first emerged after a chyron flashed during the "Mornings with Maria," show. This was proven false. Brad Garlinghouse, Ripple's CEO, gives the grounds on which a settlement might be considered: XRP must be classified as a nonsecurity.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.

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