According to Ripple's legal boss, the SEC (Securities and Exchange Commission) will not stop pursuing an appeal of their civil case verdict, even though SEC Chairman Gary Gensler will step down in 6 days.
Even though the SEC leadership will change on January 20, they will continue with the legal cases they are currently handling in court.
In a post X dated January 14, Ripple's legal director, Stuart Alderoty, said that the SEC would still file an appeal against the ruling that hampered them in the case. In August, a judge ruled that Ripple must pay a $125 million fine after the SEC accused them of using XRP as an illegal security to raise money.
“It’s a waste of time and taxpayer money,” Alderoty said. “But yes, we are very confident in our position on this appeal and look forward to working with the new leadership of the SEC to resolve this issue.”
Ripple CEO Brad Garlinghouse also agreed with Alderoty, while hinting that the SEC's approach to crypto could change after Donald Trump is officially inaugurated as president on January 20.
Trump, during the campaign, promised to fire Gary Gensler because many people dislike him in the crypto world. Gensler himself plans to resign on January 20.
The Ripple case actually started in December 2020, when Trump first took office, with Jay Clayton as his choice for SEC Chairman. The case will go to the appeals court after the August 2024 ruling. The SEC is appealing the judge's ruling that XRP is not always considered a security. But according to Alderoty, Ripple's appeal will not touch that part of the ruling.
It's still a question mark whether the new SEC chairman will continue this case or not. Trump reportedly wants to support Paul Atkins, a former commissioner, to become the next SEC chairman, but he still has to get approval from the Senate first.
Oh yeah, Alderoty is also said to have donated more than $300,000 to political teams that support Trump.
Ripple itself donated $45 million to Fairshake PAC, a group that spent more than $100 million on media campaigns supporting pro-crypto candidates in the 2024 election. After November 5, Ripple announced that it would add another $25 million to the PAC, this time to prepare for the 2026 midterm elections.
