BitBoy Comments on SEC “Emergency Settlement” of Ripple Suit

Ben Armstrong, aka BitBoy, lately spoke out about rising hypothesis throughout the XRP neighborhood in regards to the SEC “calling for an emergency ruling” within the ongoing Ripple lawsuit.

This hypothesis coincided with the announcement that SEC Chairman Gary Gensler will resign from his place, together with his resignation efficient January 20, 2025. One of many ongoing enforcement actions that Gensler is overseeing is the Ripple lawsuit, which has simply entered the attraction part.

Nonetheless, some members of the XRP neighborhood imagine that the attraction might be placed on maintain or dismissed now that Gensler’s departure has been confirmed.

BitBoy feedback on the rumors

In a latest life videoBen Armstrong (BitBoy) addressed the rumors. Whereas he acknowledged the hypothesis, he clarified that he was uncertain of the validity of the declare and promised to research additional.

For context, the hypothesis about an “emergency settlement” stems from the SEC’s weekly closed-door periods discussing pending circumstances and courtroom orders. The SEC held such a session on November 21, the identical day Gensler introduced his resignation.

The rumors particularly contributed to Friday’s vital value improve of XRP. The worth rose greater than 40%, reaching $1.60 for the primary time in three years.

Former SEC Legal professional Confirms Probably Dismissal of Ripple Enchantment

Marc Fagel, a former SEC authorized consultant, has additionally spoken out on the problem. He famous that there have been many fabricated experiences about it previously Ripple’s Settlement Talks Throughout the SEC’s non-public conferences, the most recent rumor appears extra credible.

“The final 200 experiences in regards to the SEC’s weekly conferences are utterly fabricated, however this one is totally true,” Fagel stated.

Fagel additionally identified that if the attraction had been to be denied — an consequence that may be traditionally uncommon however nonetheless attainable — it will doubtless solely occur after the brand new SEC chairman is appointed and confirmed. This implies there’ll doubtless be loads of time for extra false experiences and hypothesis main as much as the Jan. 15 brief submitting, he added.

If the attraction is denied (which might be traditionally uncommon however attainable), it is not going to occur till the brand new SEC chairman is appointed and confirmed. That leaves loads of time for false experiences about weekly meanings and all types of silliness main as much as the January 15 brief submitting.

— Marc Fagel (@Marc_Fagel) November 21, 2024

Apparently, the date of Gensler’s resignation coincides with the inauguration of Donald Trump because the forty seventh President of the USA, scheduled for January 20, 2025. Throughout his presidential campaigns, Trump had promised to take away Gensler from workplace on his first day. Nonetheless, Gensler has chosen to resign on the identical day Trump takes workplace.