Seeds of Wisdom RV and Economic Updates Monday Morning 1-6-25
Good Morning Dinar Recaps,
RIPPLE SEC CASE: EX-SEC LAWYER AFFIRMS SETTLEMENT IN XRP LAWSUIT
Ripple SEC Case: Ex-SEC lawyer Marc Fagel claims settlement is likely in XRP lawsuit as Trump admin and Paul Atkins may decide not to pursue the appeal.
▪️Former SEC enforcement lawyer Marc Fagel says Ripple SEC case will see a settlement.
▪️He explained that settlement is require due to penalty on hold pending appeal.
▪️Lawyer Jeremy Hogan has predicted an April or May timeline for XRP lawsuit end.
▪️Ripple and XRP will get required boost under the Trump admin and incoming SEC Chair Paul Atkins.
The Ripple SEC case is in debate again as the deadline for the U.S. Securities and Exchange Commission (SEC) to file its initial brief approaches.
A former US SEC lawyer said the parties will likely settle as ruled earlier by Judge Analisa Torres. The incoming Donald Trump administration and SEC Chair Paul Atkins may decide to not pursue the appeal in XRP lawsuit.
Ex-SEC Lawyer Says Settlement in Ripple SEC Case Most Likely
Marc Fagel, a former SEC enforcement attorney, on January 6 posts explained to the crypto community that the government agency didn’t lose, but won in part and lost in part. This requires a settlement between parties as both Ripple and SEC appealed the part they lost.
“Because both parties appealed the part of the case they lost. So the penalty is on hold pending appeal,” he added. The court ordered Ripple to pay $125 million in penalty for $700 million in unregistered securities sales to institutional investors.
Marc Fagel asserts the odds of new SEC administration deciding not to pursue the appeal is higher, which will make parties settle Ripple SEC case on what the court ruled. However, he affirmed that the SEC under Gary Gensler will file appeal by January 15.
Pro-XRP Lawyer Expect May End Timeline for XRP Lawsuit
As reported first by CoinGape Media, lawyer Jeremy Hogan has predicted an April or May timeline for the end of the Ripple SEC case. He added that the decision may not come before that as it takes a lot of time to get reports, memos, requisite SEC meetings and others.
Today, he again commented that Paul Atkins will definitely drop the appeal and settle with Ripple to end XRP lawsuit in 2025.
What’s Next Under Paul Atkins?
Experts and the crypto community believe the end of Ripple SEC case will boost the odds for XRP ETF approval. This may also trigger a rally in XRP price.
CEO Brad Garlinghouse in a post on Sunday criticized the SEC under Gary Gensler saying the actions “froze our business opportunities here at home for years.” He highlights that 75% of Ripple’s open job roles are now US-based and the company has signed new deals in the U.S. in the last six weeks.
“Team Trump is already jumpstarting innovation and job growth in the US with Scott Bessent, David Sacks, Paul Atkins and others at the helm, and they aren’t even in office yet! Say what you want, but the “Trump effect” is already making crypto great again.”
Meanwhile, analysts expect XRP price to see another rally to double-digit figures, similar to a 400% rally after Trump’s re-election.
In short-term, XRP price to consolidate at the current range for weeks and then rally towards a new all-time high, as per analyst CrediBULL Crypto. “Currently trading at around where I closed my last long. We’ve taken some liquidity above us into local supply. Currently eye-ing up the orange zone for another potential long trade,” he predicted.
@ Newshounds News™
Source: CoinGape
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PRO-CRYPTO LAWYER JOHN DEATON OFFERS TO PROBE OPERATION CHOKEPOINT 2.0
Not investigating Operation Chokepoint 2.0 would create a dangerous precedent where regulatory bodies can suppress whoever they disfavor, Deaton stressed.
Former United States prosecutor and crypto advocate John Deaton has offered the incoming Trump administration to lead a probe into Operation Chokepoint 2.0 — an unconfirmed initiative that allegedly attempted to cut crypto companies from the traditional banking system.
“If these actions go unchallenged, it creates a dangerous precedent where regulatory bodies can quietly suppress entire industries they disfavor, stifling innovation, competition, and economic opportunity,” Deaton said in a Jan. 4 X post addressed to incoming United States President Donald Trump, Vice President JD Vance and Department of Government Efficiency leaders Elon Musk and Vivek Ramaswamy.
“This isn’t just a fight for crypto, it’s a fight against the erosion of institutional integrity and the unchecked power of unelected bureaucrats,” Deaton said in the X post, which was also addressed to Secretary of Commerce Howard Lutnik and David Sacks, who will lead Trump’s AI and crypto “czar.”
Deaton, well-known for his efforts in Ripple’s legal battle with the Securities and Exchange Commission, said he would even “accept the task without salary.”
“The American people deserve the truth a hell of a lot more than I or anyone else needs another taxpayer funded paycheck.”
His offer followed a court order allowing crypto exchange Coinbase to obtain unredacted files from the Federal Deposit Insurance Corporation to investigate their role in the unconfirmed Operation Chokepoint. 2.0 regime.
“They show a coordinated effort to stop a wide variety of crypto activity — everything from basic BTC transactions to more complex offerings,” Coinbase’s chief legal officer Paul Grewal explained after reviewing the filings.
The alleged “architect” of Operation Chokepoint 2.0, Martin Gruenberg, resigned as the FDIC Chair in November.
The regime refers to a rumored and unconfirmed US government initiative to pressure banks into refusing or limiting services to crypto firms, which possibly caused crypto exchanges like Binance to be without a local banking partner after Silvergate and Signature Bank both collapsed in March 2023.
Deaton’s new endeavor comes after he lost a Massachusetts Senate seat to Democrat Senator Elizabeth Warren in the US election on Nov. 5.
The landslide victory in Warren’s favor came before two heated senate debates where Deaton called out Warren for building an “anti-crypto army” instead of prioritizing issues impacting the lower and middle class in the state.
@ Newshounds News™
Source: CoinTelegraph
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