๐จ BREAKING: #Ripple vs SEC lawsuit - The Final Verdict is IN? ๐ฅ
Massive Bull Run for #XRP incoming? ๐
1๏ธโฃ #Ripple vs. SEC Lawsuit:
๐ Ripple has been in a legal battle with the U.S. SEC since December 2020.
๐ The SEC accused Ripple of conducting an unregistered securities offering by selling its native cryptocurrency, #XRP.
2๏ธโฃ #Crypto Lawyer's Perspective:
๐ Prominent crypto attorney John Deaton believes that a settlement of $20 million or less in this lawsuit would be a significant legal victory for Ripple.
3๏ธโฃ Legal Advantage for #Ripple:
๐ Deaton argues that the SEC's case is not a 50/50 situation but more like a 90/10 advantage in favor of Ripple.
๐ This perspective aligns with the sentiment in the #crypto community, which sees a $20 million settlement as a positive outcome for Ripple.
4๏ธโฃ Recent SEC Setbacks:
๐ #Ripple's Chief Legal Officer, Stuart Alderoty, pointed out that the SEC has faced recent legal defeats in other cases, indicating a challenging time for the SEC.
5๏ธโฃ Disgorgement and #XRP's Status:
๐ Lawyers are discussing the matter of disgorgement (return of ill-gotten gains) in this case.
๐ They note that the amount sought by the SEC, around $770 million, might not be the final outcome, considering various legal arguments.
6๏ธโฃ #XRP's Price and Sentiment:
๐ Speculation about the lawsuit's outcome has influenced XRP's price, with some positive gains observed.
๐ The #crypto community is closely watching developments in the case.