Prominent figures in the cryptocurrency community continue to express their opinions on the whys and hows of cryptocurrencies. settlement This is likely to happen between Ripple and the SEC. This time, cryptocurrency influencer Zach Rector explains why he believes “reconciliation is guaranteed.”
Ripple and SEC pledge to reach settlement
in a tweet Rector shared on his X (formerly Twitter) platform that it was “100%” possible that the parties would reach a settlement before The case enters the trial stage Because the SEC does not want Ripple to subpoena witnesses like “Ethereum ICO insider” Steven Nerayoff.This is because Nerayoff recently proposed detail How Ethereum received preferential treatment during its initial coin offering (ICO).
According to Rector, Nerayoff’s claims vindicate members of the XRP community. hypothetical The “Ethereum Free Pass” theory. The premise of this theory is that key figures at the SEC have ties to Ethereum, which is why the cryptocurrency has not faced any regulatory scrutiny like Ripple, despite running the world’s first ICO.
One, Enterprise Ethereum AllianceThe firm was founded in 2017 and counts Simpson Tha Cher & Bartlett as one of its members, which is also the firm where former SEC director William Hinman worked before joining the SEC.This may have influenced Hinman’s famous speech He stated that Ethereum is not a security.
Others believe that the SEC may have targeted Ripple at the time, as XRP is a direct competitor to ETH, with both tokens occupying the second and third largest cryptocurrency positions in terms of market capitalization.
Rector believes that with a key witness like Nerayoff, Ripple can not only prevail, but also destroy the SEC’s credibility (a situation the SEC will seek to avoid). As a result, the SEC will seek to reach a settlement before the case goes to trial.
This position is also similar to that of legal expert Fred Rispoli, who supported XRP back then. mention The SEC does not want Ripple’s founder to go to trial because former SEC Chairman Jay Clayton and former SEC Director William Hinman may be called to the witness stand. He believes the pair’s statements could call into question the SEC’s credibility.
What does Nelaov say?
Steven Nerayoff happens to be actively involved in Ethereum’s ICO. Therefore, any testimony from him could really hinder the SEC’s case.Interestingly, Nelayov is believe Became one of those lobbying the SEC to give Ethereum a regulatory “free pass” during the SEC’s crackdown on cryptocurrency projects selling unregistered securities.
On September 17, Nerayoff posted tweet He said that there were some irregularities in Ethereum’s ICO, and the SEC seemed to be directly involved. He further stated that he “may” have evidence of these violations.
at the same time, Lawyer John Deaton supports XRP point out Nerayoff’s statement clearly proves that the “Ethereum Free Pass” is not a myth, and that the only thing the community was missing before was “a true insider who was there, knew it all and had the receipts” to prove it. “
According to him, things (possibly referring to the SEC v. Ripple case) “are going to get really interesting” if Nelayov actually knows “where the body is buried” and has a map “showing the location.”
XRP price recovers above $0.49 | Source: XRPUSD on Tradingview.com
Featured image from CoinMarketCap, chart from Tradingview.com
