Ripple Vs. SEC To Be Settled On This Date: Cardano Founder

[ad_1]

Cardano founder Charles Hoskinson has made an explosive claim about the legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) in one of his infamous Ask Me Anything (AMA) videos.

Hoskinson commented on a possible settlement date for the case between Ripple and the SEC. The Cardano leader has reportedly received information that a settlement between the two parties could be made public on Dec. 15.

However, the Cardano founder warned that the decision will have a “catastrophic” impact on the crypto industry in the now two-year-long legal battle if his information proves to be true.

I heard rumors that the Ripple case will be settled December 15, and that could have catastrophic implications for the industry one way or the other.

But you know, you just keep moving forward. Regardless of what happens, it’s a decentralized ecosystem that you guys control.

Speculations On The Outcome Of The Ripple Vs. SEC Lawsuit

Hoskinson’s comments come after both Ripple and the SEC filed their motions for summary judgment on Dec. 2. These were the last submissions Judge Torres will receive on the ruling of her case.

Now it’s a matter of waiting. Meanwhile, there is vehement speculation in the community about what the outcome of the case might be.

Jeremy Hogan, an American lawyer who has been following the Ripple case as a commentator for the XRP community since the beginning, sees mixed chances.

Hogan pointed out in his latest analysis that Ripple could win, lose, or there could be a draw. However, the most likely scenario according to the attorney is that the blockchain firm wins.

But this is contingent on the SEC not being able to prove the blockchain company has legal obligations to buyers of XRP.

That said, Hogan also sees a 30% chance that Ripple will lose the case. This could happen if the SEC manages to convincingly present to Judge Torres that Ripple used the sales of XRP to build its cross-border payments business.

More Probabilities

Hogan assigns a 19.1% chance to a draw. This could look like Judge Torres deeming early sales of XRP as securities. After a certain day, however, XRP is losing its status and will be classified as a non-securities sale, just like all future XRP transactions.

A final scenario, according to Hogan, could be a completely unexpected ruling, which “sometimes” happens in litigation. In summary, Hogan said:

In conclusion, the legal brief’s official lawsuit prediction is a 50.12% chance of Ripple winning a 29.88% chance the SEC wins.

Gene Hoffman, chief operating officer of blockchain company Chia Network, recently expressed a completely contrarian view. Hoffman predicts that the judge will rule in favor of the SEC, as the regulator has not lost a section 5 case in decades.

Moreover, the COO pointed to the LBRY case, in which the SEC walked away victorious just a few months ago.

Also, the Hinman speech is “completely irrelevant”, as other XRP “bag” holders claim, because Hinman told Ripple leadership that he believes XRP will be a security in 2019.

At press time, the XRP price was at $0.3774, breaking south of an uptrend line in the 4-hour chart.

Ripple XRP USD 2022-12-12
XRP price breaking downwards, 4-hour chart. Source: TradingView



[ad_2]
#Ripple #SEC #Settled #Date #Cardano #Founder

mrB

Related Posts

South Korea to examine crypto staking services following the Kraken case

[ad_1] As reported by a local publication on Feb. 15, Korean financial authorities are looking into the staking services market. However, as the unnamed official specified to…

Elon Musk Hints At New Twitter CEO At End-2023, Causes FLOKI To Skyrocket 45%

[ad_1] Elon Musk announced in December of last year that he will step down as CEO of Twitter once a replacement is found, but will continue to…

Bitcoin eyeing ‘next big move’ which could see $19K retest — analyst

[ad_1] Bitcoin (BTC) is headed to either $28,000 or $19,000 and this week could decide all, fresh analysis says. In Twitter comments on Feb. 15, popular trader…

Messari Analyst Reveals Why Polygon Is Set For Steady Growth

[ad_1] Through his tweet today, Messari analyst Tom Dunleavy singled out Polygon as a top-performing crypto asset and further described traits that set the cryptocurrency for further…

Sequoia Capital, Paradigm among VCs facing ‘tricky’ FTX investor lawsuit

[ad_1] Users of bankrupt crypto exchange FTX have reportedly taken aim at financiers who promoted the platform suggesting their efforts added an “air of legitimacy” to the…

Sen. Warren vows reintroduction of AML bill that extends to DAOs and DeFi

[ad_1] A bi-partisan anti-money laundering (AML) bill that covers “decentralized entities” such as decentralized finance (DeFi) protocols and DAOs will soon be reintroduced to Congress, according to…

Leave a Reply

Your email address will not be published. Required fields are marked *