Ripple closes SEC book: “BlackRock may step in”
#Ripple CEO Brad Garlinghouse announced that they have withdrawn their counter-appeals in the XRP case. With the end of the litigation process, there was an expectation that the XRP ETF application would accelerate and giants like BlackRock would step in. All eyes are now on the SEC’s final decision in the last quarter.
Ripple CEO Brad Garlinghouse announced that they have withdrawn their counter-appeal in the XRP case and expect the U.S. Securities and Exchange Commission (SEC) to do the same.
“Ripple is withdrawing our counter-appeal. As previously stated, the SEC will also withdraw its own appeal. We are closing this chapter completely and focusing on what is really important: building the Internet of Value. Get ready,” Garlinghouse said in a message shared on X.
This statement came after the federal court rejected a joint request by Ripple and the SEC to reduce the fine imposed on Ripple to $50 million. Judge Analisa Torres rejected the request, stating that the parties failed to meet the exceptional legal standards required to lift the permanent injunction or reduce the penalty.
After Ripple withdrew its counter-appeal and closed the case completely, all eyes turned to the spot ETF decision for $XRP .
Nate Geraci, general manager of US-based asset management company The ETF Store, said that this development could accelerate the approval of the spot XRP ETF application. Geraci said, “The closing of this book opens the way for the spot XRP ETF. It also makes it easier for BlackRock to get involved.”
#NODEBinanceTGE #USCorePCEMay #BinanceAlphaAlert #NEWTBinanceHODLer
