Ripple Pro-government lawyer John Deaton predicted that there will be no hearing for the ongoing XRP case between the SEC and Ripple. 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.
Ripple Is There a Hearing Ahead in His Case?
District Judge Analisa Torres recently rejected the SEC’s appeal, dealing a significant blow to their efforts. This decision was a response to the SEC’s attempt to appeal early while the case regarding Brad Garlinghouse and Chris Larson, two of Ripple’s leading figures, was ongoing.
However, during an interview on the Think Crypto channel on Wednesday, Deaton underlined the importance of this development. He noted that the SEC’s pursuit of an early appeal essentially amounted to a challenge to Judge Torres’ July decision.
Deaton also noted that the judge’s decision to reject the appeal and set a hearing date for other unresolved matters in April 2024 was a significant setback for the SEC.
Deaton’s Prediction: There Will Be No Hearing in the Ripple Case
Koinfinans.com As we reported, when asked about the possibility of a hearing, Deaton firmly expressed his belief that a hearing in the SEC and Ripple case will not occur. In his view, the SEC was unlikely to proceed with a hearing because their chances of success were slim, citing a variety of factors, including the judge’s previous rulings, the SEC’s lack of convincing evidence, and the potentially high costs associated with a hearing.
“I don’t think there will be a trial… They will lose. Do they really want all this Hinman stuff and the drama of a trial?” Deaton said.
Additionally, the SEC, Coinbase and BinanceHe also noted that he had other pressing legal battles that required his resources, such as his lawsuit against .
Moreover, Deaton stated that the SEC may choose to dismiss its case against Ripple without reaching a settlement with the company. If that happens, the SEC may choose to avoid the drama and expense of a hearing and focus on other priorities.