Is The SEC’s Big Announcement Related To The Ripple Deal? Here’s What’s Known

FOX Business reporter Eleanor Terrett hinted in a tweet that the United States Securities and Exchange Commission (SEC) could potentially make a big announcement about Ripple soon.

Is SEC’s Announcement Related to Ripple Deal?

Terrett tweeted:

“My SEC sources told me to be prepared for a big announcement tomorrow. Could it have something to do with Kraken? Compromise after a closed meeting at 14:00? Can compromise terms have sectoral consequences? We’ll see.”

Yassin Mobarak, an XRP enthusiast, replied, “Could this be a Ripple deal?” asked.

WhaleChart, a crypto-related Twitter account, said, “The leak reveals that the SEC is going to make a big announcement today. Ripple or Kraken deal?”

SEC held a meeting behind closed doors at 22:00 Turkey time. Announcement to be announced after the meeting according to the information obtained from the sources cryptocurrency exchange will be about Kraken.

Ripple is in the midst of a legal battle with the SEC alleging that the $1.3 billion sale constitutes an unregistered securities offering.

The outcome of the lawsuit is believed by many to have far-reaching implications for the entire crypto industry.

According to CryptoLaw founder John E. Deaton, a compromise can be reached after the decision of the trial judge. Ripple CEO Brad Garlinghouse said that a deal with the SEC would only be considered if XRP was deemed not a security.

According to Bloomberg’s report, citing anonymous sources, the Securities and Exchange Commission (SEC) has launched an investigation into whether top crypto exchange Kraken violated securities rules regarding certain offers made to US customers.

*Not investment advice.