Investment expert and seasoned author Linda P. Jones recently weighed in on the ongoing legal showdown between Ripple and the United States Securities and Exchange Commission. The financial analyst provided an insight into what will likely go down if the payment company and the SEC meet at the negotiation table.
Talks of a potential settlement between Ripple and the SEC started cropping up after the financial regulator dropped the charges against executives Brad Garlinghouse and Chris Larsen, marking another victory for the company behind the XRP token.
Reason Why Ripple Has Upper Hand In Settlement: Linda P. Jones In a post on the X (formerly Twitter) platform, Linda P. Jones implied that Ripple has the upper hand if they sit to negotiate with the SEC. This came as a response to a breakdown from Fred Rispoli, a lawyer and vocal XRP supporter.
I agree, however I think Ripple has a royal flush, meaning they aren’t negotiating and can literally name their terms. Due to exposure of the Hinman emails, the SEC has zero bargaining power. Ripple can 100% name their terms in the “settlement.” https://t.co/56mPtob0AZ
— Linda P. Jones (@LindaPJones) October 20, 2023
Following the dismissal by the SEC on Thursday, October 19, Fred Rispoli speculated that the SEC is most likely considering a “final settlement” with Ripple. “While the letter states the parties are conferring on a remedies briefing schedule, my guess is settlement amounts are flying back and forth between the lawyers as I type,” Rispoli added.
While agreeing with Rispoli’s stance, Jones added that Ripple has a “royal flush”. According to the seasoned author, this means that the payment company won’t be negotiating, as they “can literally name their terms.”
Furthermore, Jones highlighted in her post the exposure of the Hinman emails and how it takes the bargaining power from the SEC. “Ripple can 100% name their terms in the ‘settlement’,” she asserted in the post.
For context, the Hinman emails refer to documents linked to William Hinman, the former director of the SEC’s Division of Corporation Finance. These documents were made public earlier this year and revealed the former director’s statement that Bitcoin and Ethereum were not assets he considered securities.
The Ripple Vs. SEC Case Is Over, Attorney Claims The recent developments in the tussle between Ripple and the SEC have continued to spark commentary and broad discussions from the crypto community. Pro-XRP lawyer Jeremy Hogan is the latest to share an insight into the long-running legal showdown.
“For all Intents and Purposes” the Ripple v. SEC case is over.
Yes, important hearings will be held in the coming months (deciding a judgment of up to $770 million is of course important).
But, YOUR time for hand wringing over this case is done. IMO.
— Jeremy Hogan (@attorneyjeremy1) October 21, 2023
In a series of posts on X, the attorney asserted that “‘for all Intents and Purposes’, the Ripple vs. SEC case is over.” While Hogan acknowledged the possibility of a settlement and the SEC’s intent to appeal, he does not believe that the financial regulator has a great chance of winning on appeal.
Going further, Hogan likened the odds of the commission winning an appeal to the NFL team New York Jets winning the Super Bowl. “The chance of the SEC winning is exactly 2.367%,” the pro-XRP lawyer added.
XRP price moves sideways on the daily timeframe | Source: XRPUSDT chart on TradingView Featuured image from Unsplash, chart from TradingView
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Opeyemi Sule Opeyemi Sule is a passionate crypto enthusiast, a proficient content writer, and a journalist at Bitcoinist. Opeyemi creates unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi enjoys reading poetry, chatting about politics, and listening to music, in addition to his strong interest in cryptocurrency.