The Ripple case: Over or Underdog Victory?

A recap of the crypto highlights from the weekend

Crypto weekend recap

Are you ready for some high stakes legal drama? Well, grab your popcorn because the Ripple v. SEC case just took a surprising turn. Pro-XRP lawyer Jeremy Hogan, known for his witty legal analysis and love of metaphors, has given the United States securities regulator a slim 2.3% chance of winning this battle.

Hogan, always ready to spice things up, compared the odds of the SEC winning to the New York Jets winning the Super Bowl! That’s right, folks, it’s like trying to find a needle in a haystack while blindfolded and riding a unicycle. The SEC’s path to victory is an uphill battle, involving not only winning on appeal but also enduring a series of hearings and appeals from Ripple. It’s like a never-ending marathon with no guarantee of reaching the finish line!

But why is Hogan so confident in Ripple’s victory? Well, last week, the SEC made a surprising move and decided to dismiss the lawsuit against two Ripple executives. It was like waving the white flag of surrender, a move that Ripple’s Chief Legal Officer, Stuart Alderoty, described as the SEC throwing in the towel.

“With the SEC dismissing the rest of the case, there will be no trial next year,” Hogan exclaimed. The facts have been laid out, and there’s nothing new or surprising coming our way. It’s like the final episode of a gripping legal drama where you already know the outcome. The only question remaining is whether it will be a settlement or an appeal that seals the deal in 2024.

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But wait, there’s more! If the SEC decides to appeal, Hogan gives them theoretical odds of 14.2% to win. Yet, even then, it’s an arduous journey filled with twists and turns. The Judge’s order is written in such a way that any appeal would have to go back to the trial Judge for further deliberations. It’s like going back to the starting line after running a marathon, exhausting and demoralizing.

So, dear crypto enthusiasts, hold on to your hats because the Ripple case may just be an underdog victory in the making. Will the SEC defy the odds and come out on top? Only time will tell, but if Hogan’s predictions are anything to go by, we might as well start practicing our victory dances now.

But hey, don’t let this legal battle consume all your attention. In other news, the United States Securities and Exchange Commission has filed a default judgment against one of the individuals involved in Coinbase’s insider trading scandal. And brace yourselves, folks, because Magic Eden, a popular NFT marketplace, has temporarily suspended BRC-20 trading due to community concerns about the risks of double-spending. It’s like putting a temporary halt to a rollercoaster ride to ensure everyone’s safety.

So, fellow digital asset investors, keep an eye on the Ripple case, enjoy the twists and turns of the crypto world, and remember, the only thing certain in this wild ride is that there’s never a dull moment!

This article is for informational purposes only and does not constitute financial or legal advice. Always do your own research and consult with professionals before making any investment decisions.

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