Fox Business Reporter Eleanor Terrett stated in an article on X platform that Ripple will submit its Form C (Civil Appeal Document) today, outlining its main appeals against the SEC case in the Second Circuit Court. Given that we saw last week that the SEC appealed almost all of the content lost at the district court level, Ripple expects to only appeal on the only matter it lost: the district court ruling that the XRP tokens sold by its institution constituted the sale of unregistered securities.
Last week in Miami, when I interviewed Brad Garlinghouse (CEO of Ripple) and Stuart Alderoty (Chief Legal Officer of Ripple), they emphasized their firm confidence in Ripple's victory in the Second Circuit Court. Alderoty said, "I feel good about our cases at the regional level. And due to a series of reasons, I feel better about our cases in the Second Circuit. The Second Circuit has traditionally not liked the SEC. They also do not like excessive regulation. Statistically speaking, if we lose, the likelihood of the Second Circuit overturning the original verdict is only about 10% or lower. So, as a litigation lawyer, I feel a bit superstitious. I don't like to predict the outcome, let alone guarantee it, but I feel very good about the outcome of the Second Circuit. I think they will not only support Judge Torres, I think they will even go further. I think they will strengthen her ruling. By then, SEC They will once again be in a losing situation, and it will be up to them to decide whether to appeal this case to the Supreme Court
When I asked about the possibility of Garlinghouse's case going all the way to the Supreme Court, he told me, "I am very confident that we will win the appeal, which will truly deal a fatal blow to Gary Gensler's entire cryptocurrency regulatory agenda." He added, "To be honest, I am not worried about this. I am confident in this because I believe we are on the right side of the law. I think we are on the right side of history
