As Ripple execs visit Washington D.C., XRP community members speculate that the company may be preparing to settle with the SEC or head to the Supreme Court.
In a startling development, top executives from Ripple Labs visited Washington D.C. to meet with members of the United States Congress as part of efforts to push for favorable crypto bills for the crypto industry.
Ripple Execs Visit Washington D.C. After Court Ruling
Notably, the Washington D.C. trip was led by Ripple CEO Brad Garlinghouse. Other top executives from Ripple Labs, including Chief Legal Officer Stuart Alderoty and Vice President, Global Head of Public Policy Rob Grant, also embarked on the trip.
Garlinghouse took to the X platform to announce the development. The Ripple CEO mentioned that he’s back in Washington, D.C., along with Alderoty, for meetings with Congress members. He emphasized the importance of engaging with elected officials responsible for proposing bills to achieve regulatory clarity.
Back in D.C. today to meet with members of Congress alongside @s_alderoty, @RobGsix and our global policy team. Can’t get regulatory clarity without actually engaging with the elected officials who are proposing bills! pic.twitter.com/Yv0N4lpMBk
— Brad Garlinghouse (@bgarlinghouse) September 19, 2023
It bears mentioning that the development comes over two months after a federal court issued the highly-anticipated summary judgment in the company’s multi-year legal tussle against the SEC.
The leading blockchain payments company partially won the case, as the court ruled that most of its XRP-related transactions did not violate federal securities laws.
A Subtle Message to SEC?
While the SEC is pushing for an interlocutory appeal to challenge the ruling on Ripple’s programmatic sales of XRP and other distributions, the company execs recently sent a subtle message to the regulator.
In a tweet yesterday, Alderoty shared a picture of him with Garlinghouse standing in front of the U.S. Supreme Court, using the caption:
“While the industry waits for legislative clarity from Congress, we should always be able to count on checks and balances.”
Swung by @SCOTUS in between meetings in DC. While the industry waits for legislative clarity from Congress, we should always be able to count on checks and balances. pic.twitter.com/wjllGbmthC
— Stuart Alderoty (@s_alderoty) September 19, 2023
A few hours later, Garlinghouse also shared a picture of him with Alderoty in front of SEC headquarters.
Garlinghouse clarified that their visit to the SEC’s building was not based on invitation.
XRP Community Reacts
Expectedly, all pictures prompted reactions from XRP community members. Some enthusiasts speculate that Ripple execs indirectly inform the SEC of its readiness to adopt all available options to resolve the legal battle, including taking the case to the Supreme Court.
However, others suggested that Ripple could prepare to settle with the SEC following its visit to the agency’s building.
Reacting to the development, Yassin Mobarak, a prominent XRP community member and founder of Dizer Capital, stated that the picture is not a settlement message from Ripple.
According to Mobarak, the lawsuit between the SEC and Ripple could be heading to the Supreme Court unless the regulator “comes back to its senses.”
This is not a settle message from Ripple. @SCOTUS is where the case is heading (with all the chips on the table) unless the SEC comes back to its senses. https://t.co/BdQU1IJKAn
— Yassin Mobarak ? (@Dizer_YM) September 19, 2023
Furthermore, another XRP enthusiast named “The Bearable Bull” hopes that Ripple takes the case to the Supreme Court.
A Lot Of People Think This Means That Ripple Is Going To The Supreme Court
Let’s Make Something CLEAR?
XRP IS NOT A SECURITY & THAT CANT BE OVERTURNED
With That Being Said, I Hope Ripple Goes To The Supreme Court & Gives The SEC The Business ?? https://t.co/YGx7M7sWou
— The Bearable Bull (@thebearablebull) September 19, 2023
Meanwhile, pro-XRP lawyer John Deaton gave “unsolicited advice” to Ripple execs for the first time.
While reacting to the picture of Garlinghouse and Alderoty standing in front of the SEC’s building, Attorney Deaton said:
“Since you were sued only days before Christmas, I suggest you make this picture a postcard that reads: ‘DON’T BLAME US’ and send it to Clayton, Hinman, and Gensler this X-mas!” Deaton advised.
This is the only time I’ve given unsolicited advice (or any advice for that matter) to @Ripple’s CEO & GC. Since you were sued only days before Christmas, I suggest you make this picture a postcard that reads
DON’T BLAME US
and send it to Clayton, Hinman and Gensler this X-mas! https://t.co/B7qLHBFq1O
— John E Deaton (@JohnEDeaton1) September 19, 2023
It is worth noting that Ripple has made it clear that it is willing to settle with the SEC or go all the way to the Supreme Court to resolve the lawsuit.
The SEC has yet to signal plans for a settlement, as it is currently asking the court to certify an interlocutory appeal. Notably, the SEC has filed the necessary motion for an immediate appeal and expects a ruling from the court.
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