Leak Reveals SEC Will Make Major Announcement Today, Ripple Settlement?

Posted on February 9, 2023
News
By Mark Otto
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FOX Business journalist Eleanor Terrett revealed an explosive leak in a tweet yesterday at 10 pm EST, which could affect the entire crypto industry or allegedly Ripple and its legal battle with the U.S. Securities and Exchange Commission (SEC). Terrett wrote that she learned from an anonymous source close to the SEC that the U.S. […][...]

Terrett wrote that she learned from an anonymous source close to the SEC that the U.S. agency will make a big announcement for the crypto industry tomorrow. The journalist speculates that the announcement could come after 2 pm EST, as the SEC is holding a closed meeting at that time:

My SEC sources tell me to be prepared for a potentially big announcement tomorrow. Could it have something to do with a Kraken settlement following a closed meeting at 2pm? Could settlement terms have industry ramifications? We’ll see.

Terrett’s tweet has sparked speculation about what the announcement might entail. She herself cites a settlement reached by U.S. exchange Kraken with the U.S. Securities and Exchange Commission.

On Wednesday, it was revealed that Kraken is under investigation for alleged violations of U.S. securities laws. Bloomberg reported that the investigation was in an “advanced stage.” Citing an anonymous source, the report stated that a settlement could be reached “in the coming days.”

Could It Be A Ripple And SEC Settlement?

Meanwhile, hopes have emerged in the XRP community that Ripple may have reached a settlement with SEC. The rumor stems from the fact that the SEC case against Ripple is fully briefed and now awaiting a decision from judge Analisa Torres, as Bitcoinist reported.

XRP community attorney John E. Deaton has argued in previous tweets that a settlement is unlikely before the court ruling. Deaton believes the regulator is prepared to fight to the end.

However, LBRY’s recent partial victory in its case against the SEC may have been a game-changer. The SEC was forced to admit live on tape that secondary market sales do not constitute securities transactions. Still, it remains pure speculation whether the SEC’s announcement will revolve around Ripple’s case.

Another hot conjecture is an announcement by the SEC on cryptocurrency staking. Coinbase CEO Brian Armstrong tweeted yesterday rumoring that the SEC plans to restrict retail investors from participating in crypto staking. As expected, such an announcement could also have a significant impact on the market.

At press time, the XRP price stood at $0.3925, down slightly in line with the broader market trend. At the moment, the XRP price is finding crucial support at the 50 and 100-day EMA.