DeFI News by Thebittimes.Com

Crypto attorney John Deaton has offered insights into the ongoing Securities and Exchange Commission (SEC) vs. Ripple lawsuit, suggesting a favorable outcome for the latter. Deaton has predicted a “99.9% legal victory” for Ripple in its ongoing case versus the SEC. Deaton’s comments were prompted by a post from Ripple Chief Legal Officer Stuart Alderoty, indicating a strong belief that the outcome of the lawsuit weighs heavily in Ripple’s favor. The people who’ve argued that the SEC got a 50-50 victory in the @Ripple case are wrong. It was more like 90-10 in Ripple’s favor. If Ripple ends up paying $20M or less it’s a 99.9% legal victory. https://t.co/Xe6SYBiTCJ — John E Deaton (@JohnEDeaton1) November 4, 2023 Deaton contended that a settlement of $20 million or less would be a significant legal triumph for Ripple, refuting the idea that the lawsuit’s result would be an even 50/50 outcome for the SEC. The lawsuit between SEC and Ripple, initiated in December 2020, accus...

Stuart Alderoty , Ripple ’s Chief Legal Officer boasting over three decades of legal prowess, recently took to Twitter to criticize the evasiveness of SEC Chairman Gary Gensler , during a hearing at the House Financial Services Committee. The heat intensified as Rep. Ritchie Torres questioned Gensler, prompting Alderoty to remark, “Gensler Didn’t Know What Hit Him Until It Was Too Late.” The core of the criticism revolved around Gensler’s seeming inability to directly answer Rep. Torres’s fundamental questions, like the necessity of a contract in an investment agreement. Torres labeled Gensler’s evasive responses as “deafening and damning.” Instead, Gensler seemed more inclined to criticize the cryptocurrency sector and how certain crypto firms manage their customers’ assets. Alderoty was taken aback by Gensler’s open amusement about his wealth, sparking indignation within the XRP community. Some questioned whether Gensler’s priorities lay mo...