SEC Could Still Win Ripple Lawsuit Says Former Ripple Executive

The Ripple community has been given many previously unrevealed facts about the ongoing lawsuit with the United States Securities and Exchange Commission (SEC) to debate on. The Hinman emails that Judge Torres has ordered that the SEC should make public have formed a whole new set of permutations that the community are drawing on to repurpose their minds before the much anticipated summary judgment comes.

With details showing that some of the assertions by the staff of market regulator are contradictory and that some insights in the documents show conflict of interest on the part of Hinman, the argument of Ripple’s solid potential to win the case appears quite high. 

Sharing a very unpopular opinion, former Ripple Labs executive, Matt Hamilton said despite the obvious fact that it is clear Ripple has a chance against the SEC, the chances that the SEC can still win the case is very high.

“In our hearts we all knew this, but alas that doesn’t reflect the vagaries of the US regulatory and legal system. We could still be right, but the SEC could still win the case,” he said in a Twitter reply when asked what his take is about the recent findings in the case.

In our hearts we all knew this, but alas that doesn’t reflect the vagaries of the US regulatory and legal system. We could still be right, but the SEC could still win the case.

— Matt Hamilton (@HammerToe) May 21, 2023

Expectations for Speedy Settlement

The lawsuit between Ripple and the SEC has dragged on for more than 2 years and despite the new updates being revealed, the end still seems far for many community members following the case.

The settlement expectations are limited and it includes either a Summary Judgment from Judge Torres or an actual out of court settlement between both parties. As previously highlighted, the odds of a settlement are very low according to XRP Holder’s lawyer John Deaton.

According to him, should settlement have been an option for the regulator, it would have been presented months ago, and even before the Hinman documents were turned over to Ripple Labs.

The summary judgment that is expected has been projected as one that will favor Ripple, but with the element of uncertainty that was introduced by Hamilton, industry stakeholders may now start tapering down their expectations overall.

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin

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