Final Verdict Looms In SEC vs Ripple Legal Battle: Analysts Make Their Bets
FOX Business senior correspondent Charles Gasparino and attorney John E. Deaton have made a friendly wager on the outcome of the extended legal battle between the United States Securities Exchange Commission (SEC) and Ripple. The bet was made during a recent episode of CLAMAN COUNTDOWN, with both parties betting a steak dinner on the outcome of the case.
Gasparino Predicts SEC Win
Gasparino expressed his opinion that the SEC would win the case against Ripple, citing the recent collapse of Sam Bankman-Fried’s alleged fraud and crypto empire. He believes that it would be bad optics for a judge to appear to be on the side of crypto in light of this recent event.
“I think the SEC is gonna win, and I tell you, it’s gonna be a bad day for crypto,” Gasparino said.
Deaton Remains Optimistic
Deaton, who represents thousands of XRP holders, maintains his optimism for Ripple, stating that he expects the SEC to lose at summary judgment. However, he does not expect an outright win for Ripple, saying “I think the SEC is going to lose, but that doesn’t mean Ripple’s going to get an outright win either.”
The Ripple Case: XRP as an Unregistered Security
The legal battle between the SEC and Ripple centers around whether XRP should be classified as an unregistered security. In a past analysis, Deaton asserted that the only victory the SEC would get in the Ripple case is that the blockchain payments company offered XRP as an unregistered security from 2013 to 2017, expecting the blockchain payments firm to pay a fine at most for this.
Final Ruling Expected Soon
As the SEC vs. Ripple legal battle approaches its final ruling, there are polarizing opinions surrounding the outcome. Deaton asserts that the ruling could come any day in the next few weeks, as Ripple touts Judge Analisa Torres’ recent ruling on Daubert motions as a victory for XRP holders. Ripple General Counsel Stuart Alderoty believes the ruling dealt a significant blow to the SEC case, reflecting the strength of the Ripple case. The crypto community and XRP holders anxiously await the final verdict in this uncertain legal battle.