Permanently Dropped Lawsuit Against Ripple’s Top Leaders
If you’re an XRP user, today is a day of celebration. The lawsuit against Ripple’s top leaders has been permanently dropped, putting an end to future legal action. However, the U.S. Securities and Exchange Commission (SEC) is still determined to pursue Ripple. According to the company’s chief legal officer, this dismissal is seen as a clear “surrender” without any compromise, raising questions about why the charges were dropped.
The SEC’s Next Steps
Some legal experts speculate that the SEC may be planning to appeal the court’s classification decision on XRP after the trial concludes. This move raises questions about what the SEC will do next and whether there will be an appeal in April.
Expert Insights
Eleanor Terrett’s recent tweet brings important questions about the Ripple case into focus. With charges dropped against Brad Garlinghouse and Chris Larsen, attention now shifts to the penalty phase where both sides will argue over Ripple’s institutional sales exceeding $700 million.
Is An IPO Coming?
Following the SEC’s announcement of charges against Ripple executives, rumors have emerged about Ripple considering an initial public offering (IPO). These speculations were sparked by the hiring of a “Shareholder Communications Senior Manager,” suggesting a strategic move for Ripple after its legal battles. In response to this news, Ripple’s share price surged by 9% and the 24-hour trading volume increased by 45%.
Hot Take: What Lies Ahead for Ripple?
The permanent dismissal of the lawsuit against Ripple’s top leaders is undoubtedly a victory for XRP users. However, the SEC’s determination to continue pursuing Ripple raises concerns about future legal battles. With the possibility of an appeal and rumors of an IPO, Ripple’s fate remains uncertain. Observers eagerly await the next developments in this high-profile case.
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