Did Ripple Win the SEC Lawsuit? CLO Alderoty’s Mystic Tweet Sparks Rumors
TL;DR
- While Ripple has secured key partial victories in its lawsuit with the SEC, a complete resolution has yet to be officially announced.
- The company’s CLO, Stuart Alderoty, praised the resilience of the team and the support of the XRP community, hinting at a potential turning point in the battle.
Is the Case Over?
The legal tussle between Ripple and the US Securities and Exchange Commission (SEC) is one of the hottest topics in the cryptocurrency space. It dates back to December 2020 when the watchdog sued the firm, accusing it of raising over $1.3 billion through an unregistered securities offering by selling its native cryptocurrency, XRP.
The case underwent countless developments over the years, with Ripple securing some vital partial court wins. Most recently, the company’s chief legal officer, Stuart Alderoty, shared a post on X, hinting at a complete victory and fueling huge enthusiasm across the XRP community.
He praised the “courage” and “resilience” of Ripple’s team, which “provided the blueprint to defeat Gary Gensler’s inexplicable war on crypto.”
“We kept the door open long enough for the industry to survive and seize this incredible moment. The faith and support of the XRP Army provided much-needed hope in the darkest days. Thank you,” the post reads.
While no official announcement signals that the case has been officially settled, numerous X users assumed that Alderoty could have inside information that the upcoming Trump administration may propel a faster resolution.
Gensler Has Less Than 2 Months Left
The XRP army had a cause for celebration recently. As CryptoPotato reported last week, the SEC’s Chairman Gary Gensler confirmed he will step down on January 20. During his tenure, the agency filed numerous lawsuits against crypto businesses (such as the aforementioned versus Ripple).
His departure was somewhat expected since Donald Trump promised to fire him on day 1 after assuming office. We have yet to see who Gensler’s successor will be, and the indications are that the new Chairman might have a pro-crypto stance.
Despite the SEC’s leadership change, the case against Ripple remains ongoing. It will be interesting to see if a potential resolution announcement will follow Alderoty’s mystic post or if we will have to wait until next year to witness more drastic developments.
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