Former Ripple exec Sean McBride recently spoke out on the ongoing Ripple-SEC case, suggesting that a resolution could be coming soon. When asked if he thought the SEC would settle its dispute with Ripple soon, McBride responded on social media, stating that the case should either be dismissed or settled within the week. He explained that while both options have nuances, he believes a settlement is more likely than a termination.
McBride shared his opinion that Ripple, as well as its executives Brad Garlinghouse and Chris Larsen, deserve compensation and that a settlement would provide a more detailed resolution than a simple dismissal.
The former director went on to say that Ripple and its executives “flipped the script” on the SEC, meaning they turned the situation around in their favor. He also speculated that if the case was dismissed, Ripple could sue the SEC for damages. However, if the matter is settled, he believes the details will likely be worked out through private negotiations or “backdoor routes,” possibly involving promises from the new administration.
Legal experts speak out
Marc Fagel, a former SEC attorney, responded to McBride’s comments, explaining that a countersuit would likely not succeed, especially since the district court had already ruled that Ripple had violated the law. He also pointed out that SEC regulations are always made public, so an “indirect” resolution would therefore be unlikely. Fagel concluded by saying the case is not expected to be resolved within a week.
Attorney Bill Morgan also spoke about a settlement and wrote: “A settlement should address Ripple’s cross-appeal. The important point is that Judge Torres’ conclusion that XRP is not a security is not in dispute no matter what.
