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HomeCrypto NewsMarketSEC vs. Ripple: Top Attorney Says “Any Talk of Settlement Was Premature” 

SEC vs. Ripple: Top Attorney Says “Any Talk of Settlement Was Premature” 


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Attorney Jeremy Hogan does not think the SEC and Ripple will settle any time soon.

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XRP community members continue to react to the recent statements from Ripple CEO Brad Garlinghouse. Yesterday, Garlinghouse said SEC Chair Gary Gensler’s so-called “pro-innovation stance” is the exact opposite of the commission’s enforcement actions against crypto.

Garlinghouse’s comment was in response to the commission’s crackdown against leading crypto exchanges Binance and Coinbase, as well as SEC Chairperson Gensler’s recent remarks on digital currency.

According to Garlinghouse, the SEC sued Binance and Coinbase to distract people from the fact that they were caught off-guard during the collapse of the FTX ecosystem in November 2022.

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“It’s embarrassing to watch an unelected bureaucrat flail like this to mask the fact that he and his agency don’t have the power that he so desperately craves. No one is fooled,” he added.


XRP Enthusiasts React to Garlinghouse’s Comment

The Ripple CEO’s remark has sparked reactions from XRP enthusiasts, eagerly anticipating the end of the ongoing SEC legal battle against Ripple.

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Reacting to the comment, an XRP community member asserted that Garlinghouse’s strong words in the tweet could indicate a negative outcome in the company’s legal battle against the SEC.

According to the Twitter user, the words suggest that the lawsuit could be heading to trial or the company might be considering appealing the summary judgment decision in a higher court.

The individual invited attorney Jeremy Hogan, a partner at Hogan & Hogan, to share his opinion. Responding to recent speculation, attorney Hogan emphasized that any talk of a settlement in the SEC vs. Ripple case was premature.

Hogan’s remarks come less than 24 hours after prominent crypto journalist Zach Rector disclosed that Ripple is close to settling with the SEC.


Possible Settlement of SEC vs. Ripple Case

Notably, there have been talks of a possible settlement in the SEC vs. Ripple case since last month. Many speculate that the parties would agree on a settlement due to Judge Analisa Torres’ sealing order.

Recall that Judge Torres denied the SEC’s motion to seal the drafts of William Hinman’s 2018 speech on cryptocurrencies. The Judge issued the ruling despite efforts made by the SEC to keep the documents sealed.

With Hinman’s emails expected to be made public on June 13, 2023, several proponents speculate that the SEC would finally bow to pressure and settle with Ripple to keep the documents sealed.

Last month, the individual behind the WallStreetBulls financial blog alleged that the SEC had already settled with Ripple. The user promised to share the full settlement details on June 14, 2023.

It is worth noting that Ripple is open to settling with the SEC. However, the leading blockchain company has reiterated that it will only settle with the SEC if the commission provides regulatory clarity for XRP.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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