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Qadir AK
Qadir AK
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Mar 30, 2024 05:27 UTC
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Ripple vs. SEC Settlement Looming? Here’s What You Should Know
Ripple execs being spotted in New York and a mention of a "Settlement Conference" sparked rumors of a settlement meeting with the SEC.
Ripple refutes the SEC's claims and the SEC pushes for a fine.
The possibility of a settlement adds uncertainty to the situation, but a resolution will impact the lawsuit and XRP's future.
In the story of Ripple vs. SEC over XRP, speculation is rife about a possible truce between the two giants. The buzz started when Ripple’s CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty were spotted in New York, sparking talks of potential negotiations behind closed doors.
What do you think will happen next? Read on.
Hushed Discussions
A member of the XRP community, BobaFete, claimed to have glimpsed Garlinghouse and Alderoty outside a federal courthouse in New York, igniting chatter about a possible meeting to hash out differences between Ripple and the SEC.
Adding to the intrigue, FOX Business reporter and crypto enthusiast Eleanor Terrett hinted at a “Settlement Conference” in a recent post. Terrett, armed with evidence, pointed to a document suggesting that while the next Ripple vs. SEC case hearing is slated for April 16, 2024, there might be an earlier attempt at settling matters, although the date remained elusive.
Read More: Ripple vs SEC: Will SEC’s $2 Billion Threat Crush the XRP Price?
Ripple’s Pushback
On the other side of the ring, the SEC is wielding its power, seeking a final judgment in the XRP lawsuit with a hefty $2 billion fine against Ripple for alleged securities law violations. In response, Ripple’s Stuart Alderoty didn’t hold back, slamming the SEC’s demands as unjust, citing inconsistencies, and accusing the regulatory body of making misleading statements.
Alderoty is gearing up to mount a robust defense on Ripple’s behalf in April, signaling the company’s resolve to challenge the SEC’s claims. However, amidst this legal standoff, the possibility of a settlement meeting injects a dose of uncertainty into Ripple’s future and the fate of XRP.
Settlement or Courtroom Clash?
Finding common ground won’t be a walk in the park for either party. Yet, the presence of Ripple’s top brass in New York and talk of a settlement conference suggest that negotiations may be underway. A settlement, if achieved, could shake up the XRP lawsuit and steer Ripple’s course in the crypto sphere.
The crypto community is on tenterhooks, eagerly awaiting further developments in this gripping legal saga. With the April pre-trial conference looming, the destiny of XRP hangs in the balance.
Also Read: Will Coinbase Have the Same Fate As Ripple? Here’s What To Expect Next in Coinbase vs SEC Lawsuit
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