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Ripple v. SEC: CEO Expects Ruling in 'Weeks' as Reveal Date Nears

Thu, 05/25/2023 - 13:34
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Tomiwabold Olajide
Ripple v. SEC: Speculation mounts as lawsuit nears critical stage
Ripple v. SEC: CEO Expects Ruling in 'Weeks' as Reveal Date Nears
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The Ripple lawsuit, which has dragged on for more than two years, might be nearing an end based on new reports circulating online.

The speculation began with a tweet by Twitter user "XRPnewt," which reads: "XRPCommunity, Brad Garlinghouse expects a court case resolution in weeks and not months, following the recent court news regarding the Hinman emails."

He tweeted this along with a brief video clip that appeared to be from the "Redefine Tomorrow 2023 summit."

In a reply, the Twitter user "XRPnewt" stated: "Time will tell, but we are indeed at the end of the journey, finally."

According to an article from Bloomberg Law, Ripple CEO Brad Garlinghouse anticipates a decision on the SEC suit in "Weeks." The Ripple CEO was said to have stated this in a session at a virtual conference.

The report continued, saying that Garlinghouse anticipates that the U.S. Securities and Exchange Commission's lawsuit will be resolved "in weeks, not months."

Members of the XRP community are reacting to the latest positivity regarding the lawsuit. XRP enthusiast and crypto lawyer Bill Morgan tweeted, "Weeks works for me."

The United States Securities and Exchange Commission (SEC) filed its lawsuit against Ripple and two of its executives in December 2020, alleging that the sale of XRP constituted an unregistered security offering.

Now that all briefings have been completed, the summary judgment decision is being awaited.

In its most recent quarterly report, Ripple says it expects a decision on summary judgment in 2023, though the timing is ultimately up to the court.

Reveal date nears

Recall that on May 16, Judge Torres dismissed the SEC's request to have the Hinman documents sealed. Due to the "voluminous nature of the materials and redactions," a request for a deadline extension to June 13 was approved.

Ripple Lawsuit: Pro-XRP Lawyer Reveals Expectation for Summary Judgment Verdict

CryptoLaw founder John Deaton recently spoke on the "big reveal," saying, "I can't wait for these emails to be released. I predict even non-XRP holders, including Ripple critics, will have to objectively say that what the SEC did is flat out wrong. The inquiry about the motive behind this lawsuit will go into a higher gear, mark my words."

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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.