Anticipation is high in the cryptocurrency community, as several experts, including Ripple CEO Brad Garlinghouse, believe the lawsuit against the firm by the United States Securities and Exchange Commission (SEC) could conclude this month.
Experts Expect Lawsuit to Be Over In June
Speaking at the recent Redefine Tomorrow 2023 summit, Garlinghouse hinted that a final verdict could be forthcoming in the near term. The conversation at the summit didn’t dive too deeply into the complex intricacies of the lawsuit. However, his optimism was palpable. He expressed high confidence in a favorable outcome arriving “in weeks, not months,” further igniting speculations about an imminent resolution.
Garlinghouse’s sentiment was echoed across social media platforms and YouTube channels that closely follow cryptocurrency updates. Altcoin Daily, a highly regarded figure in the crypto-sphere, reiterated the buzz around the potential conclusion of the lawsuit this month.
Moreover, in one of his spontaneous Q&A sessions on May 31, Charles Hoskinson, the co-founder of both Ethereum and Cardano, also weighed in on the matter. Hoskinson suggested that the lawsuit’s closure could indeed occur in June, responding to a viewer’s inquiry about the expected timeline of the dispute.
The Same Echoes in the XRP Community
Ashley Prosper, an active participant in the XRP community, laid out a number of events that seem to bolster the belief of a swift resolution. Prosper pointed out Garlinghouse’s optimistic prediction of the lawsuit’s timeline and some suggestive social media interactions.
She also brought attention to Ripple’s recent acquisition of Metaco, a custody service provider, which drew applause from Nasdaq. With Ripple launching its Central Bank Digital Currency (CBDC) platform and establishing a partnership with Tranglo, a renowned remittance service provider in UAE, the company’s progress seems undeterred by the ongoing lawsuit. These advancements, Prosper argues, are not indicative of a firm on the brink of losing a significant legal battle.
Wrapping up her observations, Prosper humorously remarked, “All we need now is for Jim Cramer to come out and say the Ripple case will never end in June.” Jim Cramer, the host of CNBC’s Mad Money, is often ironically recognized for his contrarian recommendations.