- Deaton’s comments come after a major development in the case, in which a federal judge rejected the SEC’s bid to appeal its previous loss against Ripple.
- During an interview on Wednesday, Deaton emphasized the significance of this development. He pointed out that the SEC’s opposition to the early appeal was actually a challenge to Judge Analisa Torres’ decision in July.
- When asked about the possibility of a trial, Deaton firmly expressed his belief that there would be no trial in the Ripple case against the SEC.
Ripple supporter lawyer re-evaluated the XRP – SEC case after District Judge Analisa Torres’ latest blow to the SEC.
Ripple Supporter Attorney Comments on the Current Situation
Ripple supporter attorney John Deaton predicted that there would be no trial in the ongoing XRP case between the SEC and Ripple. Deaton’s comments came after a significant development in the case where a federal judge rejected the SEC’s proposal to appeal its previous loss against Ripple.
As reported by COINOTAG, District Judge Analisa Torres recently dealt a significant blow to the SEC by rejecting its attempt to provide early appeals while the cases against prominent figures associated with Ripple, Brad Garlinghouse and Chris Larson, continue.
However, during an interview on Wednesday, Deaton emphasized the significance of this development. He pointed out that the SEC’s opposition to the early appeal was actually a challenge to Judge Torres’ decision in July.
Deaton also mentioned that the judge’s decision to deny the appeal and set a trial date for unresolved issues in April 2024 was a significant failure for the SEC.
Deaton’s Prediction: No Trial in Ripple Case
When asked about the possibility of a trial, Deaton firmly expressed his belief that there would be no trial in the Ripple case against the SEC. According to him, the chances of the agency proceeding with a trial were low due to various factors such as the judge’s previous decisions, lack of compelling evidence from the SEC, and the potential high costs associated with a trial. Deaton said:
“I don’t think there will be a trial… They’ll lose. Do they really want the drama of Hinman events and a trial?”
He also noted that the SEC has other prominent legal battles, such as those involving resources like Coinbase and Binance. Deaton suggested that the SEC might choose to drop the case against Ripple without settling. In such a scenario, the SEC could prefer to focus on other priorities and avoid the drama and expenses associated with a trial.
