Ripple CEO Sheds Light on Lawsuit End Date in Dubai

Garlinghouse has shared a new end date for the lawsuit against the Securities and Exchange Commission (SEC).

Ripple CEO Brad Garlinghouse has made new predictions on when the SEC lawsuit will likely end. During the Dubai Fintech Summit held earlier this week, Garlinghouse said he expects the lawsuit to end within the next two to six months.

“I expect a resolution in the next two to six months,” Garlinghouse said in the interview.

According to Garlinghouse, the parties have fully briefed Judge Analisa Torres, and she currently “has the decision on her plate.” Although Garlinghouse believes the Judge might operate in whatever timeline she chooses, he expressed confidence that the ruling will come before the end of Q3 2023 (September 30, 2023).

Garlinghouse asserted that although the lawsuit has been frustrating and slow, the company is currently at the end of its journey (the legal battle against the SEC).

Here is what he said:

“The case against ripple By the US SEC started two and half years ago. So it has certainly been frustrating and slow, But the good news is we are at the end of that journey. Others in the crypto might be beginning their journey, but Ripple is now at the end (in its legal battle). I will say in the next two or six months; I expect a resolution. The judge has been fully briefed, and she has a decision on her plate. A federal judge can operate on whatever timeline, in this case, she would like, but I am optimistic we can see a resolution, I believe, before the end of 2023.

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— اقتصاد سكاي نيوز عربية (@SNABusiness) May 9, 2023

Previous Predictions 

Notably, this is not the first time Garlinghouse is commenting on the end date of the SEC lawsuit. As reported by The Crypto Basic, Garlinghouse, a defendant in the lawsuit, said in January that the case would be concluded in the first half of this year. 

Recall that several experts were disappointed after Judge Torres’ ruling in the SEC v. Ripple lawsuit did not come as predicted. Pro-crypto lawyers like James K. Filan and John E. Deaton predicted that the case would end on or before March 31 and May 6, respectively. 

However, the Judge is yet to issue summary judgment on the lawsuit. Based on this, Garlinghouse has extended his final ruling date prediction from June 30 to September 30.