Ah, the Ripple vs SEC lawsuit, a tale of twists and turns that would put even the most seasoned Moscow bureaucrat to shame. In the latest development, Ripple and the SEC have joined forces (yes, you read that right) to request that Judge Torres modify her previous orders. But, as the great philosopher once said, “the devil is in the details.” 😈
Pro-XRP Lawyer Bill Morgan, a man who has seen it all, has expressed his doubts about this request, citing the court’s high standard of “exceptional circumstances.” And rightly so, for in the world of law, convenience is not a valid reason for changing the rules. 🙅♂️
Ripple’s request, in particular, has raised eyebrows. They want the penalty amount reduced from $125 million to $50 million, with the remaining $75 million returned to them. A clever shortcut to peace, or just a case of “we want it all and we want it now”? 🤑
The motion also requests that the court lift the injunction that has restricted Ripple’s institutional XRP sales since August 2024. A reasonable ask, or just a ploy to get back to business as usual? 🤔
According to Morgan, this request is the only thing holding up the appeal and cross-appeal from moving forward. If the judge agrees, the case wraps up completely, saving court time and effort. But, as we all know, the courts are not known for their speed or efficiency. ⏱️
So, will the judge say yes? Morgan thinks she might, but warns not to be too sure. After all, the court could just as easily say no, forcing both sides to stick with the original rulings or withdraw the settlement altogether. 🤷♀️
All eyes are now on June 16, 2025, the day the SEC must submit a status report to the U.S. Court of Appeals for the Second Circuit. Will it be a day of reckoning, or just another chapter in this never-ending saga? 📆
Read More
2025-06-16 08:39