As a seasoned researcher with over two decades of experience following financial lawsuits, I find myself closely monitoring the Ripple-SEC case. The latest development, as shared by Attorney Fred Rispoli, has piqued my interest. It seems that the chances of the SEC appealing the recent court decision have indeed increased, but it’s not a done deal yet. The fact that 111% of the monetary judgement is being held in trust and will only be paid to the SEC after an appeal deadline or conclusion suggests some level of hesitation on their part. However, as we all know in this business, nothing is ever certain until it’s finalized.
Legal expert Fred Rispoli, who’s been keeping a close eye on the Ripple-SEC case and regularly updates the worldwide XRP community through his Twitter account, has recently shared a new post containing fresh insights
The latest development has boosted the likelihood that the securities regulator may decide to appeal the ongoing lawsuit with Ripple
“Odds of SEC appeal have increased”
On Twitter, a legal analyst expressed his opinion on Wednesday that the likelihood of the SEC challenging the recent Ripple court victories might be growing
Recently, Judge Analisa Torres decided that Ripple must compensate the Securities and Exchange Commission (SEC) with a penalty of $125 million, rather than the $2 billion in fines proposed by the regulating body
As per Rispoli and Ripple’s agreement with the SEC, an amount equal to 111% of the monetary judgement will be deposited into a trust for safekeeping. This sum will be released to the Securities Commission:
As a Researcher, I’m sharing an update on the ongoing #SECvRipple case: The likelihood of an appeal seems higher now. Ripple and the SEC have reached an agreement where 111% of the monetary judgment will be kept in trust. This amount can only be disbursed to the SEC, either (1) thirty days after the appeal deadline has passed or (2) once the appeal process is complete. It’s essential to note that this doesn’t necessarily imply…(continued in next message)
— Fred Rispoli (@freddyriz) September 4, 2024
The lawyer implied that while the move doesn’t absolutely assure an SEC appeal, depositing $125 million into a trust might indicate that the SEC could be avoiding responding clearly to Ripple’s legal team about its plans for an appeal
As a member of the XRP community, I find myself reassured by Fred Rispoli’s words. It seems he suggests that there might not be an appeal at all, but if one does occur, the chances have become more favorable
Previously, he advised the community not to panic about the potential appeal of the SEC against Ripple. He thinks that if this happens, a ruling might not come until 2026. Given that the SEC is currently suing several crypto exchanges and labeling altcoins as “crypto securities,” the SEC’s aggressive stance has significantly softened
XRP whales’ activity increases
This afternoon, the Whale Alert cryptocurrency monitoring service identified a stunning crypto transfer involving 105,481,561 XRP. At the time of the transaction, this amount equated to approximately $58,216,178 in value
As a researcher delving into the intricacies of blockchain transactions, I recently observed an enormous transfer of XRP between unidentified digital wallets. Interestingly enough, within the last 24 hours, these same wallets have been traced carrying two substantial transactions. The first one amounted to 20,600,000 XRP, equivalent to approximately $11,549,573, while the second transaction totaled 30,360,000 XRP, translating to around $16,934,507. Notably, these substantial XRP portions were deposited into prominent cryptocurrency platforms – Bitso and Bitstamp
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2024-09-05 18:17