The SEC-Ripple case, one of the most important events in the cryptocurrency market, continues with the SEC's objection.
However, former Chairman of the Commodity Futures Trading Commission (CFTC), Christopher Giancarlo, suggested that the SEC may decide to drop the ongoing case against Ripple.
Fox Business correspondent Charles Gasparino shared that Giancarlo said that with Donald Trump coming to power, the new SEC will reconsider its legal action against Ripple and may withdraw its objection.
Charles Gasparino added in his X post that he believes that Donald Trump’s election as US President is a game-changer for XRP.
“I think the game changer for XRP is Donald Trump being elected president.
Former CFTC Chairman Chris Giancarlo believes the new SEC will drop the appeal of the part of the Ripple case that it lost, as he told me on Fox Business. My view is that it makes a lot of sense.”
Apart from former CFTC chairman Christopher Giancarlo, pro-XRP lawyers Bill Morgan, Fred Rispoli, and Jeremy Hogan also claimed that the Ripple lawsuit objections would likely be rejected or withdrawn.
“The primary reason to continue a nearly hopeless objection is political, and that reason will largely disappear when Gary Gensler resigns on January 20, 2025,” Bill Morgan wrote in his post.
As is known, the court ruled that Ripple’s institutional XRP sales were considered securities, while XRP sales made on exchanges were not, upholding a previous summary judgment issued in July. The court also declared that XRP did not meet the definition of a security. The SEC filed an appeal to overturn the court’s decision, stating that it did not agree with it.
https://twitter.com/CGasparino/status/1862177479227519037
*This is not investment advice.
