$XRP Despite facing ongoing legal challenges from the U.S. Securities and Exchange Commission (SEC), Ripple is navigating a period of potential leadership transformation. On January 14, Rippleās Chief Legal Officer, Stuart Alderotti, revealed that the SEC is moving forward with an appeal in the ongoing legal battle. This stems from a ruling in August, where Ripple was held accountable for $125 million, accused of raising funds by selling XRP as an unregistered security.
Alderotti criticized the SECās actions as a misuse of taxpayer funds, yet he expressed optimism regarding Rippleās prospects on appeal. He anticipates working collaboratively with the SECās new leadership to resolve the issue. Rippleās CEO, Brad Garlinghouse, echoed this sentiment, suggesting that the commissionās approach toward cryptocurrency regulation may evolve with the upcoming leadership change after President-elect Donald Trumpās inauguration on January 20. Trump has previously indicated plans to replace SEC Chairman Gary Gensler, and itās expected that Gensler will step down that same day.
The legal case against Ripple, which began under SEC Chairman Jay Clayton during Trumpās first term, will now proceed to the appeals court following a ruling in August 2024. In that ruling, a federal judge determined that XRP does not automatically qualify as a security. Rippleās appeal will focus on aspects of the case unrelated to the judgeās determination of XRP's classification. The future of the case remains uncertain, especially with Trumpās nomination of former SEC commissioner Paul Atkins to lead the commission, pending Senate approval.
Alderottiās contributions to political causes supporting Trumpās stance on crypto are noteworthy, with over $300,000 donated to various fundraising committees. Ripple also made a significant $45 million donation to the Fairshake PAC, which has spent more than $100 million advocating for pro-crypto policies in the 2024 election cycle. Additionally, Ripple has committed another $25 million to super PACs for the 2026 midterms, reflecting the companyās continued push for favorable crypto legislation.
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