Is Ripple vs SEC Settlement on Horizon? Here’s What To Expect Next?

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Is the SEC's Ripple Lawsuit Hiding a Secret Agenda

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The U.S. Securities and Exchange Commission (SEC) voluntarily dismissed its charges against Ripple executives Christian Larsen and Brad Garlinghouse. This seismic development comes ahead of a scheduled trial in April 2024, leaving the crypto community with questions and speculations. With the SEC retreating on individual charges, what’s next for Ripple? And more importantly, what does this mean for the broader cryptocurrency landscape?

Fred Rispoli, a prominent crypto influencer, put forth a series of nuanced arguments that dig deeper into the implications of this decision. Rispoli questions the motivations behind the SEC’s move, asking whether the dismissal acknowledges the weakness of the SEC’s case against the Ripple execs or reflects a broader erosion of the court’s trust in the regulatory body.

…a prediction that a final settlement with @Ripple is the more likely option. While the letter states the parties are conferring on a remedies briefing schedule, my guess is settlement amounts are flying back and forth between the lawyers as I type. 4/4

— Fred Rispoli (@freddyriz) October 19, 2023

According to Rispoli, there are two possible scenarios: “The former suggests a lengthy, bitter briefing in the remedies stage and an appeal. The latter suggests a final settlement is at hand.” This delineation effectively pits a convoluted legal battle against a smoother, quicker resolution—a settlement.

The Voluntary Dismissal

Rispoli keenly observes that despite the obvious emotional toll on Garlinghouse and Larsen, they were in a strong position to win. “So why agree to dismiss without more voluntarily?” Rispoli asks. The influencer leans towards the probability of an imminent settlement, theorizing that discussions about settlement amounts are probably “flying back and forth between the lawyers as I type.”

The dismissal has led many, including Ripple’s Chief Legal Officer Stuart Alderoty, to call the SEC’s move a “surrender” rather than a settlement. Even Brad Garlinghouse described their years-long battle with the SEC as dealing with “unfounded allegations from a regulator with a political agenda.”

Today was an even better day.
Ripple: 3
SEC: 0

In all seriousness, Chris and I (in a case involving no claims of fraud or misrepresentations) were targeted by the SEC in a ruthless attempt to personally ruin us and the company so many have worked hard to build for over a… https://t.co/YsQxewFnj9

— Brad Garlinghouse (@bgarlinghouse) October 19, 2023

The Ripple Effect: What’s Next?

The dismissal marks a victory for Ripple’s executives but leaves Ripple Labs in regulatory limbo. The SEC still has the option to appeal previous decisions related to XRP’s programmatic sales and other distributions. Rispoli’s insights hint at ongoing backdoor negotiations, likely to result in a settlement—a scenario many in the crypto community are closely watching.

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