- Gensler will step down, and the judge will rule.
- Ripple (XRP) community hope that the proceedings will be settled or dismissed through summary judgement.
- SEC vs Ripple case to be resolved immediately upon the court’s ruling.
A crypto lawyer by the name of John Deaton recently posted on Twitter his thought on the ongoing case involving Ripple (XRP) and the U.S. Securities and Exchange Commission (SEC). The crypto lawyer also predicted that an exchange would be sued for selling unregistered securities, that bad news would come out of an investigation into SBF fraud meetings, and that Gensler would resign before the end of the year.
According to Deaton’s critique, a judge will ultimately rule on the case involving XRP and the SEC. The Ripple community has not responded positively to this news, especially since some members of the community have been holding out hope that the proceedings will be settled or dismissed through a summary judgment.
In addition, John elaborated on a previous statement in which he claimed that the case would be resolved immediately upon the court’s ruling, without the need for any further appeals or a trial by jury. In this earlier statement, John stated that the case would be resolved immediately upon the court’s ruling.
This tweet was followed by another one in which the attorney said, “Some people are confused about my prediction that the Ripple case doesn’t settle until After Judge Torres renders his decision.” In that case, settling the case out of court would preclude the need for a trial by jury and any subsequent appeals.
John Deaton also predicts events with direct implications for the Securities and Exchange Commission. So Deaton’s prediction was about Sam Bank-man Fried (SBF), the ex-CEO of the notorious FTX exchange, and how SBF would reveal many unsavoury facts about his interactions with high-ranking SEC officials.
But the second of Deaton’s four projections ended up coming true anyway. Deaton couldn’t have foreseen how quickly cryptocurrency exchanges would be sued for selling cryptocurrencies that aren’t registered securities. This morning, the SEC filed charges against Genesis, the parent company of the cryptocurrency exchange and broker Gemini, for precisely these violations.
