Ripple vs SEC: John Deaton Predicts Less than 3% Outright Win for SEC

Pro-XRP Attorney John Deaton has predicted less than a 3% outright win for the United States SEC in its lawsuit with Ripple

As the case between Ripple Labs and the US Securities and Exchange Commission (SEC) progresses, pro-XRP lawyer John Deaton recently stated that he believes the SEC’s chances of success are “less than 3%”.

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On the other hand, Deaton revealed in a recent episode of the Good Morning Crypto Podcast that there is a 25% likelihood that presiding US District Judge Torres will decide in Ripple’s favor. Notably, Deaton believes that the Ripple vs SEC case would most likely result in a court ruling because a settlement between both parties is extremely unlikely.

A ‘Splitting Baby’ Ruling

Additionally, Deaton gives a 50% possibility of a “splitting the baby” ruling. This type of finding would result in a compromise or partial triumph for both Ripple and the SEC. It is possible that some portions of the SEC’s case could be rejected or weakened, while others will be upheld.

Following the release of the Hinman documents, which include internal SEC messages relating to a 2018 speech given by former SEC Director William Hinman, there is a possibility that crypto may be able to convert from securities to commodities.

Deaton also expressed his confidence that XRP will eventually be ruled not to be a security, even if presiding U.S. District Judge Torres rules against Ripple. He argues that the nature of secondary market sales of XRP supports this view.

A Proposed Timeline for the Ripple vs SEC Ruling

Furthermore, Deaton drew attention to the timeline of the ongoing Ripple-SEC lawsuit, suggesting that Judge Torres will likely reach a final decision before September 30, 2023. Deaton highlighted the “six-month list” that district Judges must file to Congress, which outlines pending summary judgments that have exceeded six months of consideration. 

For Ripple executives, including CEO Brad Garlinghouse, the anticipation of an end to the legal proceedings has been long-standing. They have expressed confidence in the company’s position and have anticipated a favorable outcome.

Speculations Regarding Potential IPO

Meanwhile, rumors about a potential initial public offering (IPO) by Ripple have been circulating in the crypto community. An IPO would involve Ripple’s transition from a private company to a publicly traded one, offering shares to investors in the traditional stock market.

The rumors come following a Tweet from Fox Business journalist Eleanor Terrett, highlighting that Ripple held a “road show” where it visited with underwriters and other investors to gauge interest in a prospective public offering.

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