Well, old chap, it seems the Ripple vs SEC kerfuffle might finally be coming to a close, after a whopping four years of courtroom shenanigans 🤯. Both parties have filed a joint motion to settle, which is a bit like two old friends agreeing to disagree, but still having a spot of tea together ☕️.
The plan, you see, is for Ripple to unlock a tidy $125 million from escrow, with $50 million going to the SEC as a civil penalty, and $75 million returning to Ripple. All’s well that ends well, and all that rot 🤑.
But wait, there’s more! Attorney John Deaton, a chap with a keen mind and a sharp tongue, says there’s a 70% chance that Judge Analisa Torres will give the deal the old thumbs up 👍. Deaton, you see, was responding to some chap who accused him and Fred Rispoli of saying that Ripple and the SEC should have lavished praise upon Judge Torres in their filing 🙄.
Deaton, however, was having none of it. He clarified that he wasn’t expecting any flattery, nor was he strongly criticizing the lawyers involved. No, no, no! He simply expected the SEC to own up to its past aggressive approach toward crypto, especially given past court rulings calling its actions “arbitrary and capricious” and even sanctioning SEC lawyers in the Debt Box case 🤦♂️.
In Ripple’s case, Judge Netburn said the SEC “lacked faithful allegiance to the law” 🚫. Deaton expected the filing to mention these issues and highlight upcoming crypto laws like the Clarity Act and Genius Act as reasons to settle and move forward 📈.
But, alas, the filing missed the mark, old bean! Deaton expected Ripple to point out how unfair it would be to face an injunction while the rest of the crypto industry moves toward clarity 🔍. He noted that companies like Circle would have an edge, as banks prefer working with firms that are not under a legal cloud ⛅️.
He said that the filing needed a stronger case to convince the judge to reverse a ruling she firmly believes in, and not just a few cases to justify it 📊. He plans to provide an objective breakdown of both sides in his next update, so stay tuned, folks! 📺
Meanwhile, other legal eagles are weighing in with their two cents 🤑. Attorney Fred Rispoli questioned why the injunction still matters if the SEC can simply grant Ripple a waiver to bypass it 🤔. Former SEC official Marc Fagel also raised concerns over the SEC’s latest filing, saying that its focus on elections and policy shifts is not a strong legal argument 📝.
Great post, John! One question I have had trouble trying to find an answer to—maybe you can address it tomorrow—is why the injunction ultimately matters at all. Meaning, SEC wanted the injunction, now it doesn’t. If it remains in place, doesn’t the SEC have the…
— Fred Rispoli (@freddyriz) June 14, 2025
And finally, Bill Morgan commented on the Ripple-SEC joint motion, noting that it doesn’t become more convincing the more you read it 📖. But he thinks that the judge will likely approve the motion anyway, because, well, that’s just the way the cookie crumbles, old chap 🍪.
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2025-06-14 15:40