Oh, the drama! The US Securities and Exchange Commission and Ripple, the blockchain payments firm that’s been in more legal hot water than a lobster in a pot, have decided to hit the pause button on their appeals. 🦞📜 Could this be the beginning of the end? Or just another episode in the never-ending soap opera that is the XRP case?
In a move that screams “let’s take a breather,” the SEC and Ripple have agreed to put their appeals in “abeyance.” Fancy legal speak for “let’s chill for a bit while we figure this out.” 🍹 The parties even had the audacity to say this would “conserve judicial and party resources.” Translation: “We’re tired, your honor.”
Ripple CEO Brad Garlinghouse, who’s probably been living on coffee and stress since this whole mess started, announced the end of the XRP case back in March. But, surprise! The SEC seems to be waiting for their new chair, Paul Atkins, to take the reins before they settle. Because, of course, why not add a little more suspense? 🎭
Deadline? What Deadline?
Ripple’s defense attorney, James Filan, dropped the bombshell that the April 16 deadline for Ripple to respond to the SEC’s brief is now as dead as a dodo. 🦤 “No brief will be filed on April 16,” Filan declared on X (formerly Twitter). Because, you know, deadlines are more like guidelines anyway.
Legal eagles are speculating that the SEC’s willingness to pause the proceedings might mean they’re ready to drop the case once Atkins takes over. Because nothing says “fresh start” like ditching the biggest case of your career. 🎉
One X user hilariously suggested, “SEC is ready to settle but is waiting for Atkins to take the helm as the new SEC chief so he can start off with dropping the biggest case of their career and start with a huge win.” Because, of course, nothing says “winning” like giving up. 🏆
When Will Atkins Take the Throne?
While the Senate confirmed Atkins as the new SEC chair on April 9, it’s still unclear when he’ll officially take office. Could be days, could be weeks, could be whenever he feels like it. 🤷♂️
Former SEC Chair Gary Gensler was sworn in three days after his confirmation in 2021, so Atkins could be in the hot seat as soon as April 12. But, you know, bureaucracy moves at the speed of molasses in January. 🐌
CryptoMoon reached out to the SEC for comment on when Atkins is expected to be sworn in, but, shocker, they haven’t responded yet. Because why would they? It’s not like anyone’s waiting on this or anything. 🙄
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2025-04-11 12:56