As the XRP community closely monitors the Ripple vs SEC lawsuit, Marc Fagel, a seasoned securities lawyer, cautions against relying on Grok for nuanced legal insights. Despite Grok’s claims that the SEC dropped its appeal, the lawyer asserts that neither party has dismissed its appeal.
Don’t Trust Grok for XRP Case Updates, Warns SEC Lawyer
The XRP community is buzzing with discussions about the XRP lawsuit, with many wondering if both parties have dropped their appeals. Some rumors even suggest the SEC might drop its appeal today.
An X user posited that the SEC has officially dropped its appeal in the XRP lawsuit, referring to updates from Grok, an AI chatbot developed by Elon Musk’s xAI. The user stated that in a conversation with Grok, the platform confirmed the SEC’s appeal withdrawal. Grok noted, “The U.S. Securities and Exchange Commission (SEC) dropped its lawsuit against Ripple.”
However, former SEC lawyer Marc Fagel, who has provided valuable insights on the case throughout the past few months, shot down these claims. Fagel has claimed multiple times that neither Ripple nor SEC has officially filed to dismiss their appeals and it could take up to two months for internal procedures. Reiterating his position, he shared an X post, arguing that neither party has withdrawn the appeals.
Further, warning against the reliance on the AI platform, he added, “Don’t rely on Grok for complex legal matters.” Fagel further emphasized his point by asserting that as an AI tool, “Grok doesn’t understand litigation at all.”
Reality Check- What’s Current Status of Ripple Vs SEC Case?
Moreover, Marc Fagel shared the link to Ripple’s Court of Appeals docket. He pointed out that once the parties file to dismiss their appeals, the information will be publicly available for all to see and share. His post read,
And as a courtesy to you, because I’m such a nice guy, here’s the link to Ripple’s Court of Appeals docket. So when the parties DO file to dismiss their appeals–which, again, neither has done yet–you can see for yourself and tell the world!
Interestingly, many believe that the Ripple vs SEC case will be formally concluded on the August 15 status report deadline. In a contrasting view, the SEC lawyer clarified that the deadline has no clear connections with the XRP lawsuit settlement. However, he believes that both parties will likely dismiss their appeals before August 15.
Nynu V Jamal
Nynu V Jamal is a Senior Journalist at CoinGape. She boasts more than 3 years of experience in content writing, with expertise in crypto and blockchain. She has contributed to platforms like CoinEdition and CryptoTale, demonstrating her proficiency in navigating the dynamic crypto landscape.
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Source: https://coingape.com/grok-claims-xrp-lawsuit-settled-lawyer-says-dont-trust-ai/