- Ripple lawyer takes to X to reveal reasons for siding with claims suggesting that the SEC will not face Ripple execs in court.
- Amongst many other reasons, the lawyer cites the SEC’s back to back trials as an example of the many roadblocks.
Fred Rispoli, an XRP community lawyer, has taken to X, formerly known as twitter, to speak on the ongoing battle between the SEC and Ripple.
According to the lawyer, although the U.S. The Securities and Exchange Commission (SEC) is receiving a lot of heat, the highly awaited trial between regulatory and Ripple’s execs might never happen.
Brad Garlinghouse and Chris Larsen, two of the top executives at Ripple, were sued by the SEC, and are expected to be on trial. However, this move by the SEC, as the lawyer noted, was only a strategy used by the regulatory body, to pressure Ripple into a weak settlement position.
The lawyer went on to outline a handful of other reasons why himself, like many other Ripple supporters, are convinced for the most part that the trial will not hold.
“Imagine Hinman and Clayton on the witness stand, or any of the SEC folks. Even though it may be unfair, personally I would have a field day tying those two to their roles in the “Trump Administration” to a jury in New York City!” He asserted.
He further explained that the SEC doesn’t have a strong argument, as the regulator cannot prove recklessness to institutional sales, when the attorneys on the stand could simply point to the fact that programmatic sales are totally legal.
SEC might wait till last minute to show up in court, lawyer asserts
In addition to this, the evidence of domestic sales v. international sales is also a weak factor for the SEC to point to. It is worth noting that the SEC has also just recently re-organized the majority of its trial team, while going head to head with a handful of other institutions in multiple back-to-back trials. The SEC will need to attend to these ongoing trials, while it gears up for the one with the Ripple execs.
He insists that the SEC is diverting its attention to a different path, as it filed for an appeal. “ It has no bargaining chips left if J. Torres denies it.” The lawyer alleges. The SEC went all in, but if they fail, they will work hard to structure their losses, the lawyer added.
“Where two companies sue each other (aka the gov is not a party), it’s come-to-settlement-table time to stop wasting $ on legal fees. Because the SEC can waste an infinite amount of money (i.e., our tax dollars), it does have the benefit of waiting to the last minute, sadly.” He explained in another post.
In the meantime, market players look forward to the close of the year, in hopes of a significant price pump for the XRP token.
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