TechFlow news — On October 24, FOX journalist Eleanor Terrett posted on social media that Ripple will file its C brief today, outlining the main arguments for its appeal to the Second Circuit Court. This appeal challenges the previous district court ruling that Ripple's institutional sales of XRP constituted unregistered securities.
Last week, the U.S. Securities and Exchange Commission (SEC) filed appeals on nearly all issues it lost in the district court. Ripple's Chief Legal Officer, Stuart Alderoty, expressed optimism about the case at the Second Circuit, citing the court's historical skepticism toward the SEC and regulatory overreach. He also noted statistically that cases lost at the district court level are reversed at the Second Circuit only about 10% of the time or less.
Ripple CEO Brad Garlinghouse expressed strong confidence in the appeal, stating a victory would "completely dismantle Gary Gensler's entire plan for crypto regulation."
