Former Fox Business journalist Eleanor Terrett responded to this development, posting a summary of Judge Torres’s message to Ripple and the SEC, following the decision to deny their joint motion seeking to modify key terms of the court’s final judgment.

Private Deals Cannot Override Public Judgments

Terrett explained that the Judge made it clear that private agreements cannot override a public judgment issued by a federal court. The ruling leaves Ripple’s permanent injunction in place and maintains the $125 million penalty previously imposed.

Judge Torres emphasized that a court’s final judgment is not something parties can negotiate away. Her statement was direct: “The parties do not have the authority to agree not to be bound by a court’s final judgment.” Terrett also noted that the ruling underlines that judgments serve the interests of the litigants and the broader public interest.

NEW: Judge Torres’s message in the ruling is that private deals don’t erase public judgments and her judgment still serves the public interest.

“The parties do not have the authority to agree not to be bound by a court’s final judgment… They have not come close to doing so… https://t.co/Jt5STl3nWt

— Eleanor Terrett (@EleanorTerrett) June 26, 2025

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Limited Options for Ripple and the SEC

Her message also offered a clear choice to Ripple and the SEC. If either party disagrees with the court’s decision, the path forward is through the appeals process, not through privately negotiated revisions.

The SEC initially asked the Second Circuit to extend the stay on the appeals to August 15 to give Judge Torres time to make her decision. Her decision may force both parties into litigation.

Alternatively, they can withdraw their appeals and accept the judgment as it stands. The judge made it clear that neither side had presented circumstances that would justify altering the judgment outside of the proper legal channels.

Both Parties Failed to Meet the Required Standard

While most market participants assumed the judge rejected the initial filing solely because of a procedural error, the recent ruling denies the notion that the court’s previous findings are subject to negotiation. Prominent attorneys believed Judge Torres would grant the motion. But the attempt to revise those terms without fully concluding the appellate process failed to satisfy the standards required for such relief.

The language of the ruling leaves little room for ambiguity. According to Terrett’s post, Torres stated that the parties “have not come close” to demonstrating the type of extraordinary circumstances needed to set aside the judgment. Now, Ripple and the SEC must decide whether to pursue their appeals in full or accept the current judgment without further challenge.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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Terrett noted that while some may have expected Ripple’s case to be addressed simultaneously, the procedural differences make its resolution distinct from the other cases.

No @Ripple here but I’m not entirely surprised because, again, it is slightly different to these other cases in that (as @s_alderoty mentioned in his post) the SEC now has to go to the Southern District and ask Judge Torres to lift the standard injunction. Once that is done, they… https://t.co/KVjCsR6l2V

— Eleanor Terrett (@EleanorTerrett) March 27, 2025

SEC’s Legal Actions and Dismissals

The SEC’s lawsuits against Kraken, Consensys, and Cumberland were part of the agency’s broader enforcement efforts against companies operating in the cryptocurrency space. The decision to dismiss these cases suggests a shift in the SEC’s litigation strategy, though the reasons behind the dismissals remain unspecified in the agency’s announcement.

Terrett pointed out that Ripple’s case differs from the others because the SEC must first request Judge Analisa Torres of the U.S. District Court for the Southern District of New York to lift the standard injunction previously imposed at the SEC’s request. Once that process is completed, the SEC can vote on the final steps in the case, including its appeal withdrawal.

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Ripple’s Case Nears Final Resolution

Terrett referenced a post by Stuart Alderoty, Ripple’s Chief Legal Officer, which provided additional details on the finalization of the SEC v. Ripple case. According to Alderoty, the SEC has already agreed to drop its appeal without conditions, and Ripple will withdraw its cross-appeal. As part of the resolution, Ripple will pay $50 million of the originally imposed $125 million fine, while the remaining amount will be returned to the company.

Alderoty explained that the SEC will now ask the court to lift the injunction, and the process will be subject to the necessary commission vote, drafting of final documents, and standard court procedures. He indicated this should be the last update on the case, signaling that the long-running legal battle between the SEC and Ripple is nearing its conclusion.

Broader Implications

The SEC’s dismissal of cases against Kraken, Consensys, and Cumberland, along with the expected resolution of the Ripple lawsuit, reflects ongoing changes in the agency’s regulatory approach to the cryptocurrency industry. The outcomes of these cases may influence future enforcement actions and provide further clarity on the SEC’s stance regarding digital asset companies.

With Ripple’s case requiring additional procedural steps, the company awaits the court’s decision on lifting the injunction before the SEC can finalize its legal actions. While the agency has not publicly explained its rationale for the dismissals, these developments indicate that the regulatory landscape for cryptocurrency firms continues to evolve.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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SCOOP: I’m told a big announcement regarding @realDonaldTrump’s plans for next steps in #crypto policy is coming imminently out of the @blockworksDAS.

— Eleanor Terrett (@EleanorTerrett) March 19, 2025

Trump’s Proactive Stance on Cryptocurrency

Since returning to office, President Trump has taken a more engaged approach toward crypto policy. In January 2025, he signed an executive order aimed at supporting blockchain innovation and regulatory clarity. This marked a departure from the SEC’s historically aggressive stance and signaled the administration’s willingness to embrace digital assets as part of the U.S. financial landscape.

To reinforce this commitment, the White House recently established the Strategic Bitcoin Reserve and the United States Digital Asset Stockpile. This initiative is designed to securely manage national digital asset holdings, including Bitcoin, Ethereum, XRP, Solana, and Cardano, further positioning the U.S. as a key player in the evolving financial ecosystem.

Anticipated Details of the Announcement

While specific details of President Trump’s forthcoming announcement remain undisclosed, the cryptocurrency community is abuzz with speculation. Analysts anticipate that the address may outline comprehensive regulatory frameworks aimed at fostering innovation while ensuring consumer protection. 

There is also the possibility of introducing new initiatives to integrate blockchain technology into various sectors of the economy, reflecting the administration’s intent to position the United States as a leader in the crypto space. 

Market Reactions and Industry Implications

Trump’s upcoming speech has already sparked market optimism, with Bitcoin and other major cryptocurrencies experiencing an upward price movement ahead of the summit. Many in the industry see this as a pivotal moment that could shape the future of U.S. crypto policy, influencing everything from institutional investment to retail adoption.

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However, not all reactions are positive. Some analysts warn that while Trump’s policies may be crypto-friendly, their long-term impact will depend on specific implementation strategies. If regulatory adjustments lean too heavily toward oversight, some fear it could stifle innovation rather than support it.

Trump’s presence at the Blockworks Digital Asset Summit is historic—never before has a sitting U.S. president addressed a major crypto event. With Eleanor Terrett’s report confirming that a groundbreaking announcement is imminent, the industry is now on high alert.

Will this be the defining moment that propels U.S. crypto policy into a new era of clarity and growth? Or will it introduce new challenges that must be navigated carefully? All eyes are now on Trump and the DAS summit, where the next chapter in America’s crypto story is about to be written.

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Fox Business journalist Eleanor Terrett recently reported that two well-placed sources assured her the case is wrapping up, stating that the remaining barrier is the ongoing negotiations.

SCOOP: Two well-placed sources tell me that the @SECGov vs. @Ripple case is in the process of wrapping up and could be over soon.

My understanding is that the delay in reaching an agreement is due to Ripple's legal team negotiating more favorable terms regarding the August…

— Eleanor Terrett (@EleanorTerrett) March 12, 2025

The focus of these negotiations is Ripple’s challenge to the August 2024 district court ruling, which imposed a $125 million fine on the company and issued a permanent injunction preventing Ripple from selling XRP to institutional investors.

According to Terrett, Ripple’s legal team argues that, given the SEC’s new leadership and its reconsideration of enforcement actions against other cryptocurrency firms, maintaining the original ruling against Ripple would be inconsistent and imply wrongdoing where there may be none.

Jeremy Hogan, another prominent attorney, predicted that the ruling would be an issue. He recently highlighted the complexities involved in dismissing the case outright, because of the $125 million fine and the injunction against Ripple’s sales to institutional investors.

Recent Speculation on a Private Settlement

The SEC’s recent decisions to scale back enforcement actions against major cryptocurrency firms, including Binance, Kraken, and Coinbase, have fueled speculation about the potential dismissal of the Ripple lawsuit.

Former White House Communications Director Anthony Scaramucci added to this speculation by suggesting that the SEC had dropped its case against Ripple. During a recent episode of The Wolf of All Streets podcast, Scaramucci implied that Ripple should be included among the companies that had seen cases against them withdrawn.

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What’s Next for Ripple and the SEC?

Other experts have also weighed in on the potential timeline for the case’s resolution. Attorney Fred Rispoli recently speculated that a resolution or significant development could occur before Ripple’s April 16, 2025, filing deadline.

He noted that, while there is no formal requirement for this timeline, it is reasonable to anticipate that the case could be resolved or see significant movement by that date. However, Terrett’s report suggests the case could be settled anytime from now.

The Ripple lawsuit has been a focal point in the cryptocurrency industry. Its resolution would mark the end of the SEC’s war on crypto, and usher in a new age for crypto regulation and sensible laws.

Terrett explained that the Ripple lawsuit is taking longer to resolve because there is no playbook for complicated scenarios like this. The crypto market watches eagerly to see what steps Ripple and the SEC take next.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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The sender asked Terrett to “please raise the price of Ripple as soon as possible to more than $100,000,” concluding with multiple prayer and rocket emojis.

Terrett shared a screenshot of the email on X with a sarcastic remark: “Well, since you asked so nicely, Mohammad.” The post quickly caught the attention of the crypto community, leading to a series of humorous responses.

Well, since you asked so nicely, Mohammad. pic.twitter.com/p0kFQKnPrH

— Eleanor Terrett (@EleanorTerrett) March 1, 2025

Community Reactions and Clarifications

One X user, CryptoArsenal, questioned the logic behind the request, asking, “How are you going to raise the price of a private company though?” Their comment highlights a common misconception among some investors, as Ripple is a private company, while XRP is a digital asset that operates independently. In a lighthearted response, Terrett jokingly replied, “With my Jedi mind tricks,” playing along with the absurdity of the request.

Another user, Productbilly, provided a more educational response, saying, “The classic ‘please raise crypto prices’ email A reminder that markets don’t work on wishes – they move on fundamentals, volume, and adoption.”

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Productbilly’s comment reinforces an important reality about financial markets: prices are influenced by real-world factors such as supply and demand, liquidity, and investor sentiment, rather than personal requests or hopeful speculation.

The Broader Issue of Misinformation in Crypto

The email serves as a reminder of the widespread misunderstandings surrounding digital assets. XRP, often incorrectly referred to as “Ripple,” is frequently at the center of misinformation.

While Ripple, the company, is closely associated with XRP due to its involvement in blockchain-based payment solutions, the two are separate entities. Price movements of XRP depend on market conditions, adoption, and regulatory developments, not on the actions of any individual or company.

Such misconceptions can sometimes lead to unrealistic expectations among retail investors, as seen in this email. Some individuals may believe that influencers, journalists, or even companies can directly manipulate prices, overlooking the complex economic factors. This incident highlights the importance of financial literacy and responsible investing in the crypto space.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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Terrett’s comments addressed speculation about whether the SEC’s acknowledgment of XRP ETFs implies that the agency now considers it a commodity.

SEC’s Acknowledgment vs. XRP Classification

According to Terrett, the SEC has acknowledged that issuers are applying for an ETF product that treats XRP as a commodity asset within a securities wrapper. This framework is consistent with how Bitcoin (BTC) and Ethereum (ETH) have been categorized in ETF applications.

However, she clarifies that this acknowledgment does not necessarily equate to the SEC explicitly classifying XRP as a commodity. Instead, it signals that issuers are proposing XRP-based ETF products under the same regulatory structure as Bitcoin and Ethereum.

Terrett also notes that the SEC has recently acknowledged ETFs tied to other digital assets, including Solana (SOL), Dogecoin (DOGE), and Cardano (ADA). This suggests that the Commission is willing to consider ETFs for cryptocurrencies that the previous SEC administration may have viewed as securities.

For those asking — here are my thoughts on the questions about whether the @SECGov has classified $XRP a commodity by way of the ETF acknowledgements. https://t.co/iSbvYskpi9

— Eleanor Terrett (@EleanorTerrett) February 15, 2025

SEC Litigation and Regulatory Uncertainty

Another key point in Terrett’s analysis is the SEC’s approach to ongoing litigation related to digital assets. She highlights that the agency has paused certain legal proceedings while its crypto task force assesses the regulatory landscape. This move indicates that the SEC may be reconsidering its stance on the classification of various digital assets, including XRP.

This regulatory pause aligns with broader trends in the crypto industry, where multiple legal battles have shaped the classification of digital assets. Notably, in July 2023, a U.S. federal court ruled that XRP was not a security when sold on secondary markets. However, the SEC has continued to scrutinize the asset, leaving its definitive classification unresolved.

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Avoiding the Appearance of Favoritism

Terrett also suggests that the SEC’s acknowledgment of these ETF applications may stem from a desire to avoid the perception of favoritism. By recognizing applications for multiple cryptocurrency-based ETFs, including assets that were previously considered securities, the SEC may be attempting to present a more neutral regulatory approach. This could be an effort to ensure consistency and avoid accusations of picking winners and losers within the digital asset industry.

What This Means for XRP and the Crypto Market

The SEC’s acknowledgment of XRP-related ETF applications is significant, as it indicates a willingness to consider XRP under a regulatory framework similar to that of Bitcoin and Ethereum. However, Terrett cautions against interpreting this as a definitive classification. Until the SEC engages more substantively with these applications, it remains uncertain how the agency ultimately views XRP.

The broader implication of these developments is that the SEC’s stance on cryptocurrency regulation is evolving. With the crypto task force actively reviewing various assets and legal challenges shaping regulatory interpretations, the classification of XRP and other cryptocurrencies remains subject to change.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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In a reply to well-respected attorney James Filan on X, Terrett noted that today is the day for the SEC to file its opening brief, and the regulator must do so before midnight.

In his post, Filan revealed that both parties have agreed to file a deferred appendix for the cross-appeals. This appendix, which contains key documents for the appeal, will be submitted 21 days after the appellee’s brief is served. However, the SEC’s priority is submitting its opening brief before midnight tonight—the January 15 deadline.

It’s opening brief day in the @SECGov’s appeal against @Ripple.

The agency must file it before midnight tonight. https://t.co/2ZE9KdswSs

— Eleanor Terrett (@EleanorTerrett) January 15, 2025

Significance of the Opening Brief

The SEC’s opening brief will outline the agency’s arguments challenging the court’s earlier ruling that XRP is not a security when sold to retail investors on secondary markets. This decision marked a significant setback for the SEC’s war on digital assets.

Failure to meet the deadline could result in the court dismissing the appeal. This outcome would benefit Ripple and XRP, reinforcing the earlier ruling that determined XRP is not a security. Such a dismissal could also have broader implications for the cryptocurrency industry, as it would limit the SEC’s ability to regulate other digital assets under similar frameworks.

Ripple, on the other hand, remains prepared to address the SEC’s arguments. The company’s legal team has consistently emphasized that XRP should not be classified as a security. Ripple CEO Brad Garlinghouse has expressed willingness to take the case to the U.S. Supreme Court if needed.

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The SEC’s Habit of Cutting It Close

The proceedings following the SEC’s appeal in early October 2024 show the regulator may have lost its willingness to pursue this case aggressively. A similar situation unfolded when the regulator was supposed to file Form C in late October for its appeal.

The SEC delayed this filing, causing speculation on the deadline and whether the regulator had missed it. The SEC filed its Form C at the last minute, and many in the community believe it will repeat this for its opening brief.

However, as one community member pointed out, this filing might be pointless. Donald Trump is set to take office as president of the U.S. in a few days. Trump is pro-crypto and has already nominated a pro-crypto successor to current SEC Chair Gary Gensler.

Because of this, many experts believe his administration will dismiss the lawsuit against Ripple and other similar cases, and provide crypto-friendly regulation for the market.

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According to a report from Fox Business journalist Eleanor Terrett, the announcement may come tomorrow.

NEW: @realDonaldTrump’s pick to replace @GaryGensler as @SECGov Chair could be announced as soon as tomorrow, sources tell @FoxBusiness. Stay tuned .

— Eleanor Terrett (@EleanorTerrett) December 3, 2024

This development comes after Gensler’s resignation announcement. His chosen date coincides with Trump’s return to office. Gensler’s tenure has been marked by stringent enforcement actions against the crypto industry, which many in the space argue have stifled innovation.

The most prominent example is the SEC’s lawsuit against Ripple, which resulted in prolonged uncertainty for XRP. With Gensler’s departure on the horizon, XRP has surged to its highest price since 2018, signaling renewed investor confidence.

Potential Candidates for SEC Chair

Several prominent names have been suggested as potential successors to Gensler. Among them is Christopher Giancarlo, the former Chairman of the Commodity Futures Trading Commission (CFTC) and a vocal advocate for blockchain innovation.

Often referred to as “CryptoDad,” Giancarlo is viewed by many as the frontrunner and a potential ally for the cryptocurrency industry.

Brian Brooks, the former Acting Comptroller of the Currency, is another strong contender. Known for his pro-crypto stance, Brooks has been a key figure in advancing regulatory clarity for digital assets.

Other potential candidates include Daniel Gallagher, currently serving as Robinhood’s Chief Legal Counsel; Brad Bondi, a partner at the law firm Paul Hastings; Paul Atkins, CEO of Patomak Global Partners; and Bob Stebbins, former SEC General Counsel.

Many experts and crypto advocates, including well-known attorney John Deaton, have supported Bondi while standing with Ripple’s Chief Legal Officer (CLO) Stuart Alderoty against Stebbins.

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Market and Industry Reactions

The possibility of a more crypto-friendly SEC Chair has generated optimism in the industry. XRP’s recent price rally reflects broader market enthusiasm, as investors anticipate a regulatory environment that could foster innovation and reduce legal uncertainty.

Critics of Gensler’s tenure argue that his approach to crypto regulation has been excessively adversarial. Industry leaders have pointed to the SEC’s enforcement-first strategy as a barrier to technological progress and market growth.

The appointment of a new Chair, especially one with a balanced view on crypto regulation, is a potential turning point. The dismissal of the lawsuit could also send XRP higher.

There have also been rumors that Ripple CEO Brad Garlinghouse met with Trump recently, and the crypto community can rest assured that the new administration will choose the right person for the job.

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Her statement, “As someone who’s been reporting on the @Ripple case and engaging with the #XRPCommunity for 3 years, I endorse this statement,” reflects her appreciation of the community’s dedication.

MoonPay’s comment emphasized that XRP enthusiasts have been among the most active and vocal crypto groups, particularly as XRP’s legal status and Ripple’s litigation with the U.S. Securities and Exchange Commission (SEC) have kept the community’s interest high.

The XRP community, sometimes referred to as the “XRP Army,” has consistently backed Ripple through extensive legal challenges as the blockchain payment firm faced allegations over XRP sales.

A Historic Legal Battle Shapes XRP’s Trajectory

Ripple’s partial victory in 2023, which ruled that XRP was not necessarily a security when sold to retail buyers, was a landmark moment. While the decision was positive for Ripple, it remains a complex issue, especially with the SEC appealing aspects of the case.

The court’s decision acknowledged Ripple’s boundaries in programmatic sales but still imposed a significant fine and ongoing monitoring to ensure compliance with securities laws, which the SEC views as an essential safeguard for future crypto industry operations.

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XRP Community’s Impact on Legal and Regulatory Discourse

The XRP community’s solidarity has, in part, amplified media and social discussions around Ripple and XRP, pushing public and judicial opinions to consider the implications for the broader crypto landscape.

Key crypto influencers have highlighted this case, and figures like Eleanor Terrett, who are closely involved in reporting on these issues, validate the community’s role in keeping this conversation active and influential in the space.

Furthermore, the debate over whether digital assets like XRP should fall under traditional securities laws or require a new framework underscores the importance of the XRP community’s continued advocacy.

A Signal for the Future of Crypto Regulation

This collective involvement emphasizes the XRP community’s influence and showcases the high level of user engagement, signaling to crypto platforms and institutions that community voices can drive conversations and influence market perceptions.

As the Ripple case progresses, community advocates continue to stress the need for regulatory clarity, not only for XRP but for the entire cryptocurrency ecosystem, reinforcing their role as vocal, influential stakeholders in the ongoing debate over digital asset regulation.

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Journalist Eleanor Terrett of Fox Business recently shared on X that while the SEC filed its notice of appeal on October 2, 2024, the document was not officially docketed until October 4.

This detail has sparked a debate on whether the SEC’s deadline to file Form C for the appeal is October 18 rather than October 16, as previously thought.

Terrett highlighted this discrepancy by posting a document showing that the appeal was docketed on October 4, suggesting that the 14-day deadline might push the final date to October 18.

She further noted that she was seeking comments from relevant parties to clarify the situation, underlining that the correct deadline might allow the SEC a few extra days.

NEW: According to this document filed in the Second Circuit, the @SECGov’s notice of appeal was filed the 2nd but not docketed until the 4th.

So, it seems the real deadline is actually Friday, October 18th at 11:59PM.

H/T to a follower for sending me this. pic.twitter.com/H7TWIgGBl6

— Eleanor Terrett (@EleanorTerrett) October 17, 2024

The Community Responds

The XRP Army quickly responded to Terrett’s observations. Ashley Prosper, a prominent voice in the community, stated that many rely on the 2nd Circuit docket to estimate the deadlines.

However, he pointed out that the notice of appeal was originally filed in the district court. He said only the filing date is crucial in determining the timeline for the submission of Forms C and D.

Prosper reaffirmed that, according to court rules, the 14-day countdown began from the filing date (October 2), not when it was docketed in the 2nd Circuit on October 4.

Vincent Van Code, another well-known figure in the community, also weighed in. He expressed skepticism about the conflicting dates, emphasizing that the notice of appeal was officially filed on October 2.

Van Code questioned the sources providing the October 18 deadline, maintaining that the original district court filing date should be the authoritative reference.

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What Happens Now?

The speculation is not just about the deadline itself but also what consequences might follow. One community member pointed out that while the SEC missed the deadline based on the filing date, the court has discretion over whether to accept the late submission.

He further suggested that the court might allow the appeal to proceed if there is reasonable ground for the SEC’s delay. Additionally, there are rumors of a potential settlement between the SEC and Ripple, with some speculating that the SEC’s delayed filing might be a strategic move to negotiate a larger financial settlement.

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