Ripple vs. SEC: The Drama Unfolds – Will April 16 Change Everything? 🤔

by

In Brief

  • The valiant XRP legion eagerly anticipates the fateful day of April 16, when Ripple’s appellate brief is to be unveiled.
  • Legal sage Fred Rispoli proclaims a staggering 90% likelihood of a settlement or withdrawal notice. How delightful! 🎉

Is the Curtain Finally Falling?

Ah, the Ripple community, in a fit of jubilation, recently toasted to what they believed was the grand finale of their protracted legal saga with the US Securities and Exchange Commission (SEC). This revelry was sparked by none other than the illustrious CEO Brad Garlinghouse, who proclaimed that the agency had, in a fit of benevolence, dropped its appeal against the company. How noble of them! 🍷

Yet, in a twist befitting a Russian novel, the regulator has chosen to remain as silent as a winter’s night, leaving one to ponder whether this tale has truly reached its denouement.

Our esteemed legal oracle, Fred Rispoli, anticipates that the winds of change may blow on April 16 or perhaps even sooner. This date, dear reader, marks the moment when Ripple is to present its appellate brief. A momentous occasion, indeed!

Rispoli, with a twinkle in his eye, suggests that there exists a mere 10% chance that the firm will actually file the document, while the prospect of a notice of settlement or withdrawal looms at a staggering 90%. Quite the gamble, wouldn’t you say?

Moreover, Rispoli has the audacity to assert that Ripple announced the dropped appeal without the SEC’s written assurances. Oh, the drama! 🎭

“Nothing official has been done yet to effectuate the public announcement,” he quipped, with a hint of sarcasm.

The Latest Skirmish

In a recent turn of events, a filing from the ever-controversial Justin W. Keener has become the latest bone of contention between Ripple and the SEC. This court document, submitted at the dawn of April, represents an “emergency request” to Judge Analisa Torres to “present decisive evidence in favor of the defendants and in favor of liberty for the American people.” A noble cause, indeed!

How this information aids Ripple remains shrouded in mystery, yet it tantalizingly hints at connections to investment contracts that Keener has amassed. Meanwhile, the SEC has taken the liberty of suing him for his alleged role as an unregistered penny stock dealer, resulting in a rather hefty $10 million penalty. Oh, the irony!

Earlier this week, the Commission opposed the “emergency request” for three rather compelling reasons. They argued that the District Court had no jurisdiction over the filing since the case had already been whisked away to the Second Circuit. Furthermore, they contended that Keener had failed to file the correct motion to intervene. How very bureaucratic!

Lastly, the SEC deemed the request “unnecessary,” asserting that Ripple is quite capable of determining whether the evidence could benefit its case. How reassuring! 😏

Read More

2025-04-10 11:02