news 
Title: Dropping Ripple Appeal ‘Next Up for Sure,’ Former SEC Exec
A recent tweet by John Reed Stark, a former SEC enforcement attorney, has sparked speculation that the Securities and Exchange Commission (SEC) may drop its appeal against Ripple Labs. This development comes as the agency recently agreed to dismiss the Coinbase case without imposing any fines or charges.
Stark’s comment suggests that the SEC’s pattern of withdrawing lawsuits could be replicated in the ongoing cases involving Binance and Ripple Labs. He tweeted, “Dropping the SEC’s Ripple appeal ‘next up for sure,’ given Uniswap & Opensea officially closing after receiving Wells notices under Chair Gensler.”
For context, Uniswap and Opensea are major players in the decentralized finance (DeFi) and non-fungible token (NFT) spaces. Their closure after receiving Wells notices from the SEC could signal a shift in the regulatory body’s stance towards cryptocurrencies.
The Coinbase case dismissal has led many to speculate that this trend might extend to other high-profile cases, including the Ripple Labs appeal. Armstrong, Coinbase CEO, expressed his satisfaction with the outcome, stating that he feels vindicated for engaging in the litigation process back in 2023.
Stark’s comment adds fuel to the fire, suggesting that a similar development could be on the horizon for Binance and Ripple Labs. The former SEC executive stated that it would not be surprising if the agency drops its appeal against Ripple, considering the recent developments with Uniswap and Opensea.
Ripple’s CEO, Brad Garlinghouse, has already hinted at a potential settlement with the SEC. He emphasized the importance of clarity and stability in the regulatory environment for the growth of the industry.
While there is no concrete evidence to confirm Stark’s prediction, his insight as a former SEC enforcement attorney lends credibility to the speculation. The possibility of the SEC dropping its appeal against Ripple Labs could have significant implications for the crypto market, particularly XRP holders who are eagerly awaiting clarity on their asset’s status.
References:
1. [Twitter](https://twitter.com/JohnReedStark/status/1507831344391138048)
2. [U.Today](https://u.today/ripple-and-uniswap-officially-closed-after-wells-notice-from-the-sec/)
Source: https://u.today/dropping-ripple-appeal-next-up-for-sure-former-sec-exec
