Is Ripple set to settle with the SEC this week? Crypto Twitter Weighs

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Rumors suggesting that the legal battle between Ripple Labs and the United States Securities and Exchange Commission (SEC) is coming to an end have continued to circulate, prompting the crypto community to speak out on the matter.

Speculation is rife over a potential settlement as early as Dec. 15, which was shared in December. 10 Ask Me Anything (AMA) with Cardano Founder Charles Hoskinson noting that he had heard rumors that the matter would be settled on December 15, he then reiterated that it was not What a lot of rumors and he didn’t necessarily believe it was true.

Meanwhile, Cointelegraph also realized that the rumors were unfounded.

Despite this, there are still many comments about what a settlement would mean for Ripple and the broader crypto industry.

In a December 12 Twitter post, January Walker, a former pro-crypto candidate for the US Congress, opined that an unfavorable Ripple settlement would be a loss for the whole world and WEB3, adding:

The world is watching the actions of the United States, and how the government treats one of us takes precedence over how it treats us all, Walker said, calling on the industry to “work together.”

The world follows the actions of the United States, and how the government treats one of us takes precedence over how it treats us all. Instead of fighting each other pretending that one group is better than another, we need to work together for the right legislation.

January Walker (@UtahPolitician) December 12, 2022

David Gokhshtein, the founder of blockchain-focused media company Gokhshtein Media, also weighed in, commenting in a Dec. 10 Twitterpost: “We need Ripple to win this case and not settle,” which he says, would be the worst case. script.

Worst case scenario, Ripple settles, but I don’t know if they will bring clarity to the whole industry, he added.

At the Dec. 10 AMA, Hoskinson also said a settlement could have catastrophic consequences for the industry one way or another.

Meanwhile, crypto attorney Jeremy Hogan, a partner at Hogan & Hogan, says there are several possible outcomes. In a December 10 YouTube video, Hogan told his 157,000 subscribers that he believed there was about a 50% chance Ripple would win, but a 110.6% chance something would happen shortly.

The lawyer predicted that if Ripple wins, the most likely reason would be that it has no legal obligation to the buyers of XRP after the sale, no obligation after the sale, in other words, there can be no having an investment contract without an investment contract.

The evidence is clear in the Ripple case that there is no ongoing legal relationship between the buyers of Ripple and XRP. There are none, and the SEC has failed to resolve this issue, he added.

However, he also backed an earlier Nov. 4 prediction by defense attorney and former federal prosecutor James Filan that the case will be decided no later than March 31, 2023, calling it a proclamation of a legal God. .

I stand by my prediction that District Judge Torres will rule on both the expert motions and the motions for summary judgment – no later than March 31, 2023.

James K. Filan 126k (beware of imposters) (@FilanLaw) November 4, 2022

Related: Investors Growing Confident of Ripples’ SEC Victory: CoinShares

Ripple CEO Brad Garlinghouse told panelists at DC Fintech Week on October 11 that he expects the case against the company to be completed in the first half of 2023, but admitted that was hard to predict.

He previously said that Ripple would consider settlement with the SEC provided XRP is not classified as a security.

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