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The FOX Business correspondent believes that the FTX collapse would impact the outcome of the highly followed legal battle.
FOX Business Senior Correspondent Charles Gasparino has bet Attorney John E. Deaton that the United States Securities Exchange Commission (SEC) would win in its case against Ripple.
This happened on an episode of CLAMAN COUNTDOWN aired yesterday. Notably, both parties bet a steak dinner on the outcome of the extended legal battle.
Gasparino expressed that the general sentiment is that the regulator would win the case in light of Sam Bankman-Fried’s alleged fraud and the collapse of his crypto empire. According to Gasparino, in light of the recent collapse, it would be bad optics for a judge to be on what appears to be the side of crypto.
“I think the SEC is gonna win, and I tell you, it’s gonna be a Bad day for crypto,” the FOX Business correspondent asserted.
Deaton responded, “Ok; we can bet dinner on that.”
On the other hand, Deaton, who represents thousands of XRP holders, maintains that he expects the SEC to lose at summary judgment, but still, he does not expect an outright win for Ripple.
“…I think the SEC is going to lose, but that doesn’t mean Ripple’s going to get an outright win either.”
Recall that the attorney, in a past analysis, had asserted that the only victory the SEC would get in the Ripple case is that the blockchain payments company offered XRP as an unregistered security from 2013 to 2017, expecting the blockchain payments firm to pay a fine at most for this.
The debate comes as we approach the final ruling in the case over whether XRP is an unregistered security. Deaton has asserted that the ruling could come any day in the next few weeks.
As reported, Ripple has touted Judge Analisa Torres’ ruling on Daubert motions as a victory for XRP holders. Ripple General Counsel Stuart Alderoty has implied that the ruling served a significant blow to the SEC case while similarly implying that it reflected the strength of the Ripple case.