A settlement with the SEC may have permanently bankrupted Ripple. Now, a summary judgement is expected within four weeks.
Highlights
- Ripple raised $1.3 billion through its XRP token sale.
- SEC alleges various illegalities of its offerings in its civil lawsuit.
- The presiding US District Court Southern District of New York could rule in summary judgment within a few weeks.
- Ripple’s attorneys allege that the SEC failed to provide “fair notice” of potential securities regulation violations.
- Ripple could appeal the decision all the way to the Supreme Court if it loses this round, maintaining the current status quo of indecision.
- Both parties have already filed requests for summary judgment, which uses evidence already submitted by both parties and doesn’t require a jury trial.
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