Speculation is swirling within the crypto community regarding a potential settlement meeting between Ripple Labs and the US SEC amidst the ongoing XRP lawsuit. The speculation gained traction after Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty were reportedly seen in New York, fueling rumors of settlement discussions.
Settlement Conference or Something Else?
BobaFete, an XRP community member, claimed to have seen Garlinghouse and Alderoty outside a federal courthouse in New York, triggering speculation about a possible settlement negotiation between Ripple and the SEC.
FOX Business reporter and crypto enthusiast Eleanor Terrett also mentioned a “Settlement Conference” on March 29 in her X post. Backed with evidence, Terrett shared a document indicating that the next Ripple vs. SEC case hearing is on April 16, 2024, for a final pretrial conference. However, the document also mentioned the possibility of a prior meeting between the parties to discuss settlement, with no specific date provided.
SEC’s Stance and Ripple’s Response
In the meantime, the SEC is busy pushing for final judgment in the XRP lawsuit, slapping a $2 billion fine against Ripple for alleged violations of securities laws. In response, Ripple CLO Stuart Alderoty criticized the SEC’s unfair demand, highlighting inconsistencies and alleging misleading statements by the regulatory agency.
Alderoty said he is all set to file a response on Ripple’s behalf in April, reflecting Ripple’s intent to challenge the SEC’s claims. Against this backdrop, the potential settlement meeting adds a new layer of uncertainty to the ongoing legal battle between Ripple and the SEC over XRP. XRP is already facing community rage over its poor performance.
With $2B Slap, Is Settlement on Cards?
Coming to a common ground is not easy for both parties. Yet, Ripple’s top executives in New York and a settlement conference suggest potential negotiations between the company and the SEC. A settlement could significantly impact the XRP lawsuit and Ripple’s future.
The crypto community remains on edge, awaiting further developments in this high-stakes legal battle. With the April pretrial conference approaching, Ripple and the SEC are awaiting a common ground, or the lawsuit will proceed to trial, prolonging uncertainty surrounding XRP’s regulatory status.
