Rumors are spreading that the lawsuit between Ripple, the US-based cross-border payments firm, and the United States Securities and Exchange Commission (SEC), has ended in a settlement. The recent Ripple CEO Brad Garlinghouse’s statement, which was quoted in a tweet by Attorney Jeremy Hogan, is suggesting something similar.
It can be recalled that the lawsuit was filed by the SEC in December 2020 against Ripple and two of its top executives, Brad Garlinghouse and Chris Larsen, for the sales of XRP as an unregistered security.
Per the source, Ripple and the SEC have reached a consensus on the basis of the settlement. The source also said all staff involved in the case have been reassigned. Another source added that an official announcement is expected to follow in the coming weeks.
XRP the Standard Productions tweeted, “Anyone else heard the rumour? Settled. All staff on the SEC vs Ripple case have been reassigned. A week until the news in public. SEC now hiring to prosecute illegal currencies. The beer in your hand is now champagne. Your VW is now a lambo. The GF that dumped you is calling XRP.”
Anyone else heard the rumour? Settled. All staff on the SEC vs Ripple case have been reassigned. A week until the news in public. SEC now hiring to prosecute illegal currencies. The beer in your hand is now champagne. Your VW is now a lambo. The GF that dumped you is calling #XRP
— XRP the Standard Productions (@XRP_Productions) March 4, 2022
Reacting to the rumors, Ben Armstrong, a popular crypto trader and YouTuber, said he prays that the lawsuit has indeed been settled as claimed.
“I can 100% confirm that I am praying this is true. Have included in my nightly prayers since October 1.”
I can 100% confirm that I am praying this is true. Have included in my nightly prayers since October 1. https://t.co/idpIfrKS10
— Ben Armstrong (@Bitboy_Crypto) March 4, 2022
Another Indication of a Possible Settlement
Ripple CEO, Brad Garlinghouse, in a recent Fox Business interview, said the SEC Chair, Gary Gensler stated during an interview that the regulatory agency will lose some of its cases.
Although it’s not yet clear whether he’s referring to the SEC’s case with Ripple.
As recently quoted by Attorney Jeremy Hogan in a tweet, Brad Garlinghouse said, “I was meeting with Chairman Clayton, I met with SEC Commissioners, no one ever once said ‘XRP is a security’.”
"I was meeting with Chairman Clayton, I met with SEC Commisioners, no one ever once said 'XRP is a security'." -BGarlinghouse
That's pretty powerful testimony, no? https://t.co/TWqYI12LTz
— Jeremy Hogan (@attorneyjeremy1) March 3, 2022
Jeremy Hogan has been Echoing Possible Settlement
There have been lots of predictions that the lawsuit could end in settlement. Many XRP community members even expect this, as they cannot wait to see the conclusion of the case.
A few days ago, Jeremy Hogan, a partner at the Hogan & Hogan law firm, hinted at a possible settlement of the Ripple-SEC lawsuit, stating that this could play out in April or May 2022. He backed his claim up with some documents.
According to the documents shared by Hogan, there will be a one-hour settlement talk between both parties, 14 days after the close of fact discovery. He pointed out that if they reach an agreement during the settlement talk, the lawsuit could end by April or May 2022.
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