Star Attorney Weighs In On Likelihood Of Ripple Victory
•
June 5, 2023 11:19 am
•
Comments
Pro-XRP attorney, John Deaton, has weighed in on Ripple Labs’ chances of victory in the ongoing Ripple V SEC lawsuit.
In a recent episode of The Good Morning Crypto podcast, Deaton told audiences that Ripple only has a 25% chance of outright winning its lawsuit against the Securities and Exchange Commission.
However, the chances of a partial victory for the blockchain company are 50%. This puts Ripple’s total chances of some sort of victory at 75%.
While these numbers may paint a sunny picture on the part of hopeful investors and speculators, they fall short of Ripple CEO, Brad Garlinghouse’s earlier hopes of a total victory against the SEC.
Here’s what everyone is saying:
In a June 3 episode of The Good Morning Crypto podcast, Deaton said he tipped a 25% chance that presiding U.S. District Judge Torres rules in outright favor of Ripple, and a 50% chance that Ripple claims victory by way of a “splitting the baby” ruling.
— Cointelegraph (@Cointelegraph) June 5, 2023
Attorney John Deaton believes there’s a one-in-four chance that the U.S. Securities and Exchange Commission (SEC) lawsuit against Ripple Labs could result in a total win for the blockchain company. https://t.co/X1WJIucAYD
— Michael Branch (@Michael63140627) June 5, 2023
Legal expert John Deaton predicts a 25% chance of an outright win for #Ripple against the SEC, despite rumors of a potential IPO. The odds of an outright victory for the SEC seem slim, estimated at less than 3%. Keep your eyes on this high-stakes crypto legal battle. #XRP…
— Krypton AI (@KryptonAi) June 5, 2023
According to Daily Coin:
Deaton assesses the likelihood of Ripple securing an outright victory at 25% and a “splitting the baby” ruling at 50%. He asserts that the chances of the SEC prevailing with an outright win are less than 3%.
By “splitting the baby,” Deaton refers to the possibility of Judge Analisa Torres ruling that XRP was indeed offered as an unregistered security before 2018.
One Twitter user highlights the recent removal of Bill Hinman’s biography from the SEC’s website and how this is potentially reflective of broader developments.
After being a figure of controversy for the past few years and really being a massive focus of the @Ripple v @SECGov case, what strange timing this is. Why would the #SEC chose this moment to remove Hinman's biography? Almost like they're preparing for something imminent 🤔 https://t.co/ueeOc2jVxr
— Crypto Adviser (@Crypto__Advisor) June 5, 2023
Coin Telegraph explained:
This refers to Judge Torress “drawing a line in the sand,” where she could potentially rule that XRP was offered as an unregistered security before 2018.
However, in the wake of the Hinman documents — which refer to internal SEC messages related to a 2018 speech given by former SEC Director William Hinman — it’s possible that cryptocurrencies can transition from securities to commodities once they become sufficiently decentralized.
Join the conversation!
We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.