- The long-standing lawsuit between Ripple and the Securities and Exchange Commission (SEC) may soon reach a conclusion, according to Ripple CEO, Brad Garlinghouse.
- Garlinghouse’s comments were fuelled by the upcoming reveal date for the unsealing of the “Hinman emails,” leading to speculation that a court decision may come within weeks rather than months.
Speculation Surges Amid Pending Lawsuit Conclusion
In a highly-anticipated legal case that has been active for over two years, Ripple, a leading name in the cryptocurrency world, may soon see an end to its ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC). This speculation was initiated by a Twitter user known as “XRPnewt,” who shared a brief video clip that seems to originate from the “Redefine Tomorrow 2023 summit.”
PS: feels like the interviewer is an XRP holder 🤣 pic.twitter.com/OT303FoNZI
— XRPnewt🏴☠️ (@XRPnewt) May 25, 2023
Within this post, Ripple CEO, Brad Garlinghouse, was said to expect a resolution of the SEC lawsuit in weeks rather than months. This speculation sparked excitement within the XRP community, with members voicing their positive outlook towards the nearing end of the lawsuit. Legal and crypto enthusiast, Bill Morgan, affirmed this sentiment with his tweet:
“Weeks works for me.”
Ripple Anticipates Judgment Decision, as Reveal Date Draws Closer
The SEC lodged its lawsuit against Ripple and two of its executives in December 2020, accusing them of making an unregistered security offering through the sale of XRP. Since then, Ripple has been awaiting the court’s decision, expressing in its latest quarterly report that it anticipates a judgment verdict in 2023, though the timing ultimately depends on the court.
Adding to the anticipation, the reveal date of the long-sealed “Hinman emails” is fast approaching. On May 16, Judge Torres refused the SEC’s request to keep these documents sealed, due to their extensive contents. A deadline extension for the release of these materials was granted to June 13.
John Deaton, founder of CryptoLaw, expressed his eagerness for the unveiling of these emails. Deaton suggested that even non-XRP holders and critics of Ripple will be compelled to agree that the SEC’s actions were inappropriate once the emails are made public.
Predictions and Reactions to the Potential Case Resolution
Reactions to Garlinghouse’s prediction on the lawsuit’s conclusion varied, with excitement and anxiety rippling through the community. Pro-XRP lawyers and enthusiasts, including John Deaton, Jeremy Hogan, and James Filan, offered good wishes to Garlinghouse on his prediction, albeit with a humorous undertone due to their own past unsuccessful predictions.
While the Ripple vs. SEC lawsuit has been a central focus in the crypto world for over two years, all eyes are now on the upcoming reveal date and the highly-anticipated court decision, hoping for a conclusion to this legal saga within weeks. As Ripple CEO Brad Garlinghouse stated:
“Time will tell, but we are indeed at the end of the journey, finally.”