Ripple vs. SEC, Higher Court Reversal Fears After Coinbase Case?

Ripple vs. SEC, Higher Court Reversal Fears After Coinbase Case?

Apr 02 Tech Standard

The recent SEC victory against Coinbase in their separate lawsuit has stirred concerns about the future of Ripple's case. Judge Failla's decision in the Coinbase case, siding with the SEC, has some worried it could foreshadow a reversal of Ripple's earlier victory.

Fox Business journalist Charles Gasparino, citing anonymous sources, suggests Judge Failla's decision is a warning to XRP holders. He believes a higher court might overturn Ripple's win due to similarities between Judge Failla's reasoning and that of Judge Rakoff in a separate SEC case. Gasparino has previously speculated about the appellate court reversing Ripple's win altogether.

However, industry commentators are dismissing these concerns. Seedstarter founder Jesse Hynes calls Gasparino's take "bad," emphasizing the different legal weight of a motion to dismiss (Coinbase) vs a summary judgment decision (Ripple). Australian lawyer Bill Morgan echoes this sentiment, criticizing Gasparino's narrative.

The key question remains: will the SEC appeal Judge Torres' decision after the remedies phase? Judge Torres previously denied the SEC's appeal request before all issues were resolved. With only the remedies litigation pending and the SEC filing their opening brief, many expect a final decision this year.

The final ruling will determine whether the SEC challenges the XRP sales verdict. If the Second Circuit upholds Judge Torres' decision, the SEC risks setting a legal precedent for the entire crypto market.


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