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Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

Pro-XRP Legal Expert Shares Expectations If SEC Wins Appeal Against Ripple

Scott Matherson
Scott Matherson
1 year ago
3 mins read
Ripple XRP Small

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Pro-XRP legal expert Fred Rispoli has shared some expectations following Judge Analisa Torres’ order, where she officially dismissed the US Securities and Exchange Commission’s (SEC) claims against Ripple’s executives Brad Garlinghouse and Chris Larsen. 

SEC Can Still Bring Claims Against Ripple’s Executives

In a post shared on his X (formerly Twitter) platform, Rispoli noted that the SEC could still file another lawsuit against Garlinghouse and Larsen if they were to appeal Judge Torres’ ruling on the programmatic sales and other distributions and get a judgment in their favor. 

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His assumption is based on the fact that the Judge’s latest order showed that the SEC only dismissed the claims against them with respect to the institutional sales, as the Commission had alleged that both Garlinghouse and Larsen aided and abetted Ripple Labs in violating securities laws with respect to the crypto company’s offers and sales of XRP.

However, he stated that any action would only be restricted to the programmatic sales and other distributions since the dismissal with respect to the institutional sales was with prejudice, meaning a claim cannot be brought again regarding that particular matter. 

In July, Judge Torres also ruled that the institutional sales were investment contracts, which amounted to them being securities. In line with this, the SEC and Ripple will move to settle on the latter’s violation of securities laws, with the firm expected to pay a particular amount as a fine for its violation of the act. 

XRP price chart from Tradingview.com (Ripple SEC)

Token price clears $0.54 resistance | Source: XRPUSD on Tradingview.com 

Will The SEC Appeal Judge’s XRP Decision?

As to whether the SEC will appeal Judge Torres’ ruling on the programmatic sales and other distributions, Rispoli seemed to suggest that that was unlikely as the SEC was more focused on crunching the numbers (probably the monies Ripple will pay as fine) and “wrap this one up for good.”

In a subsequent post, he also mentioned that there was the possibility that they received assurances from the SEC to not file an appeal as one would expect that Garlinghouse and Larsen’s “high-powered attorneys” would have asked that the SEC dismissed all the claims, including the ones relating to the programmatic sales and other distributions. 

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Interestingly, Rispoli had once predicted the likely outcome of this case as he had stated that the SEC was unlikely to drag Ripple’s executives through a trial and that they had only brought forward the claims against them in order to force Ripple into a “weak settlement position.”

The SEC is also unlikely to appeal, going by pro-XRP legal expert John Deaton’s comments when he suggested that the ETH Gate saga may have forced the SEC into what Ripple’s Chief Legal Officer Stuart Alderoty has described as a “surrender.”

Featured image from U.Today, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Reason to trust

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