Over the last week, the U.S. Securities and Exchange Commission (SEC) has dismissed key cases, including that of crypto exchange Gemini, as mentioned in our previous article. Ripple advocates are now demanding that the regulatory agency should drop its case in the XRP lawsuit after the federal judge dismissed the SEC’s lawsuit against Richard Heart, founder of HEX, PulseChain, and PulseX, citing the lack of jurisdiction.
Pro-XRP Lawyer John Deaton Demands Ripple Lawsuit Suspension
Amicus Curiae attorney John Deaton, who represented 75,000 XRP holders, slammed the SEC’s ambiguous approach to its appeal strategy in the Ripple case. Deaton, a prominent advocate for Ripple, referenced key figures, including Hester Peirce, David Sachs, Bo Hines, and Mark Uyeda, underscoring the persistent uncertainty surrounding the regulatory agency’s direction. As reported earlier, the Ripple legal team remains confident about the resolution of the case.
As Amici counsel and on behalf of 75K XRP holders, @HesterPeirce, @DavidSacks, @BoHines, Mark Uyeda, when @Ripple? https://t.co/GuO7G1Gosl
— John E Deaton (@JohnEDeaton1) March 1, 2025
As mentioned, this demand for the dismissal of the Ripple lawsuit comes following the federal court dismissing the SEC lawsuit again against the HEX founder Richard Heart. The securities regulator had accused Heart of accumulating more than $1 billion through unregistered crypto offerings and another $12.1 million via defrauding investors. However, the court stated that the SEC failed to show U.S. jurisdiction over Heart’s crypto activities. In the court ruling on Friday, Judge Carol Bagley Amon stated,
“The alleged misappropriation occurred through digital wallets and crypto asset platforms, none of which were alleged to have any connection with the United States… To the extent the Complaint shows that Heart misappropriated investor funds through deceptive mixer transactions, those actions occurred entirely outside of the United States.”
Key Dates for XRP Lawsuit
Other prominent lawyers like Jeremy Hogan have shared their opinions on when they expect the lawsuit to end. Hogan has forecasted further delays in the Ripple vs. SEC lawsuit, citing the case’s complexity, as highlighted in our last piece. Hogan predicts a resolution is unlikely before March 14, despite the SEC’s recent decision to close the Tron lawsuit.
“Ripple is STILL a more complicated case to resolve because of the judgment,” Hogan noted, emphasizing the likelihood of extended proceedings. He identified three potential settlement milestones: March 14, April 11, and May 1. According to Hogan, these dates could mark pivotal moments in resolving the high-profile XRP lawsuit.
Although many anticipate delays due to the complexities of the Ripple vs. SEC case, legal expert Fred Rispoli argues otherwise. Rispoli maintains that dismissing the case is straightforward and entirely achievable. While much of the community braces for potential setbacks, Rispoli’s stance suggests that a resolution could be simpler and more imminent than expected. He said:
“Clearly, the absence of Paul Atkins did not worry the current 3-member SEC Commission on those large litigation issues. My best guess is that, given the $125M judgment, that is real money that Uyeda and Pierce do not want to have responsibility for modifying. Not a great excuse (shows cowardice), but it does make some sense. The case is over regardless, either now or in a few months.”