Ripple Community Celebration: Unlikely to Include IPO or SEC Settlement
Ripple’s upcoming “community celebration” event in New York City has sparked speculation about potential announcements such as an IPO or a settlement with the SEC. However, John Deaton, an American closely following the SEC v. Ripple Labs lawsuit, dismisses these speculations, stating that neither an IPO nor an SEC settlement is likely to be announced at the event.
Main Breakdowns:
- District Judge Analisa Torres delivered a mixed ruling in the case, granting the SEC’s motion for summary judgment on Ripple’s Institutional Sales of XRP but denying the SEC’s claims on other types of XRP sales.
- A Pretrial Scheduling Order revealed preparations for a jury trial involving Ripple, Brad Garlinghouse, and Chris Larsen.
- The SEC filed a motion to certify for interlocutory appeal, indicating their determination to continue the legal battle.
- Ripple Labs and CEO Brad Garlinghouse announced the “community celebration” event in New York City.
John Deaton’s reasoning is based on the ongoing legal complexities between Ripple and the SEC. He believes the SEC is unlikely to approve a Ripple IPO due to the agency’s authority over U.S. company public offerings. Deaton also suggests that a complete legal settlement between Ripple and the SEC is unlikely in the near term, depending on the outcome of a separate case involving Coinbase and the SEC.
Hot Take:
The Ripple community celebration event is unlikely to bring significant announcements like an IPO or SEC settlement. The legal battle between Ripple and the SEC continues, making it improbable for the SEC to approve an IPO or reach a settlement. The event may serve as a celebration of Ripple’s journey so far, but it won’t mark the end of their ongoing legal challenges.
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