The Ripple and SEC showdown continues to be a nail-biter, with whispers that Ripple might be holding out for a change at the top of the SEC. The buzz suggests that Ripple could be waiting for Paul Atkins to step in and potentially lighten the hefty $125 million penalty hanging over their heads.
Before the SEC threw in an unexpected appeal, Ripple was all set to cough up the cash. But the SEC, under its previous boss, Gary Gensler, had been pretty aggressive with crypto companies like Binance, Coinbase, and Kraken. Yet, the Ripple saga drags on.
Attorney Fred Rispoli recently stirred the pot with his prediction that the current crypto-friendly SEC might just drop the appeal and keep the fine as is. This fine is a result of Judge Torres’ ruling last summer, where Ripple was slapped for stepping out of line. Ripple’s execs were ready to settle, but the SEC’s last-minute appeal keeps the legal brawl alive. It’s no surprise, given that the fine isn't even close to the $2 billion the SEC initially demanded.
Rispoli speculated that Ripple's team is playing the waiting game, hoping for Atkins to step in and slash the penalty. Atkins, appointed by Trump, is yet to take charge, needing Senate approval first. Meanwhile, the SEC’s current leader, Mark Uyeda, has shown some crypto love, which might play in Ripple’s favor.
Rumor has it that instead of handing over the $125 million, Ripple might convert the sum into XRP and park it in a strategic crypto reserve recently announced by Trump. However, Rispoli remains skeptical about this twist.
Elsewhere, attorney James Murphy thinks the ongoing battle might be Ripple’s attempt to erase some of Judge Torres’ decisions. He sees the fine as a win for XRP holders but a bit of a black mark for Ripple’s image.
On the flip side, Anthony Scaramucci, a former White House insider, believes the drama is done and dusted, counting Ripple among the cases the SEC has recently let go. Crypto enthusiast Scott Melker seems to be on board with that idea too.
So, will Ripple’s legal saga see a plot twist, or is it just another chapter in this crypto courtroom thriller? Stay tuned!
