XRP Lawsuit: John Deaton Bets On Summary Judgment

Also Read: Microsoft Partners With Aptos Labs For AI And Web3 Fusion, APT Token Spikes 18%

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US SEC’s Appeal May Fall Short: Attorney

Analyzing the Summary Judgment by Judge Torres in the historic July 13, 2023 ruling, Deaton said there was no evidence to support the Third Howey Test, which states that “a person invests his money in a common enterprise and is led to expect profits.” He added that the US SEC would still face a hurdle when it comes to satisfying the common enterprise part. Attorney Deaton said he even offered to bet that the verdict will not be overturned.

“I’m willing to bet a significant sum that she (Judge Analisa Torres) won’t be overturned.”

Concerns of a possible appeal by the SEC grew when the agency’s lawyers said they intend to seek a review of the XRP ruling after Kwon cited Judge Torres’ ruling as a precedent.

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Meanwhile, the Crypto Market could be likely staring at a rally over the next one week, as major events like the US CPI inflation data release are line up. Earlier, CoinGape reported an analyst quote from Bloomberg that the upcoming August 13 deadline could likely lead to an increase in market volatility.

Also Read: Terra Luna Classic L1 Developer Team Announces Core Upgrade, LUNC To Recover?

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