Brad Garlinghouse, the CEO of Ripple Labs, has shared an exciting update on the timeline for U.S. District Judge Analisa Torres to deliver the final verdict in the SEC lawsuit.
Speaking at the XRP Ledger Apex 2024 conference, Garlinghouse expressed confidence in the possibility of resolving the lawsuit soon, mentioning that it will be up to the judge to set the timeline for the final decision.
Anticipated Final Verdict Before Summer 2024
Despite this, Garlinghouse estimated that Judge Torres might issue the final verdict before the end of summer 2024. Notably, he pointed out that summer could stretch beyond August, reaching until September 21, which marks the astronomical conclusion of the season.
“We don’t have control over the final resolution outcome at the moment; it will be at the discretion of the judge. My prediction is that it will likely be before summer ends. When someone asked me if summer ends in August, I reminded them that September 21st signifies the end of summer,” Garlinghouse noted.
Garlinghouse Questions the Motive Behind XRP Attack
In addition, Garlinghouse expressed frustration over the SEC’s decision to target XRP before other cryptocurrencies. The Ripple CEO questioned the reasoning and timing behind singling out XRP for legal action.
“There are aspects that are incredibly frustrating. Why did the SEC choose to go after XRP ‘first’?” Garlinghouse pondered.
His comments indicate that the SEC initiated legal proceedings against XRP while several other digital assets warranted similar scrutiny. Nonetheless, Garlinghouse remains hopeful that the prolonged legal battle is approaching a resolution, with expectations of the final verdict being delivered before September 21.
Past Forecasts on SEC Lawsuit
This isn’t the first time Garlinghouse has attempted to forecast the possible conclusion of the SEC lawsuit. Back in 2022, the Ripple CEO predicted that the lawsuit would be resolved in the first half of 2023.
At the 2023 Dubai Fintech Summit, he revised the timeline to the end of Q3 2023. Given the complexity of the SEC v. Ripple lawsuit, accurately predicting the timeline for the final resolution is challenging.
However, many experts monitoring the case believe that the court will deliver the final verdict this year. As previously reported, prominent XRP community member Ashley Prosper speculated that the only thing delaying the final decision is the determination of whether SEC’s Andrea Fox is an expert or a summary witness.
The court’s ruling on this matter will have a significant impact on the case’s outcome. Therefore, it will be addressed before the final decision is made. Despite various projections, an official date for the final verdict has not been announced yet.
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The opinions expressed here are solely those of the author and do not necessarily reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic holds no responsibility for any financial losses incurred.
