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ZyCrypto 2025-02-18 17:09:58

Elon Musk’s DOGE Takes Aim At The SEC. Is Ripple Lawsuit About To End?

Elon Musk’s DOGE Takes Aim At The SEC. Is Ripple Lawsuit About To End?

The new Department of Government Efficiency (D.O.G.E), spearheaded by billionaire Elon Musk, has reportedly set its sights on the U.S. Securities and Exchange Commission (SEC). D.O.G.E. Targets SEC, Putting XRP Case In Focus D.O.G.E has added over 30 affiliate pages on the X social media platform as it broadens the scope of its cash-cutting sweep to several federal agencies. One of those newly-created affiliates is DOGE SEC, which published a call to action on Monday, saying: “DOGE is seeking help from the public! Please DM this account with insights on finding and fixing waste, fraud, and abuse relating to the Securities and Exchange Commission.” This post was enough to spark speculation among XRP holders dealing with the SEC’s regulatory crackdown for many years. Some believe the findings from the initiative could reveal conflicts of interest or misconduct within the SEC, which could weaken the regulator’s appeal against Ripple. BREAKING: A NEW DOGE ACCOUNT HAS BEEN CREATED: @DOGE_SEC IT SEEMS LIKE THE SEC’S ACTIVITIES WILL BE CHECKED & EXPOSED! THIS COULD BE A BIG ADVANTAGE FOR THE RIPPLE VS. SEC CASE! #XRP pic.twitter.com/cUuNgySRcc — 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) February 17, 2025 The SEC initially filed its lawsuit in December 2020, accusing Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen of raising over $1.3 billion through unregistered XRP sales. Ripple initially gained ground in July 2023 when a district judge ruled that XRP sales to retail investors on exchanges did not break federal securities laws. An appeal phase , however, is still ongoing and the case has not concluded yet. Notably, the protracted case has shed light on former SEC chair Gary Gensler’s controversial approach to crypto enforcement. Pundits accused Gensler of using Ripple as a high-profile example to assert regulatory authority over the fast-growing crypto sector. As such, any positive developments regarding how the SEC approaches the Ripple case could propel XRP prices higher. The agency is currently being led by acting chair Mark Uyeda , pending confirmation of Trump’s pro-crypto nominee Paul Atkins. Spectators believe settling the case in the Trump regime could pave the way for the first spot XRP exchange-traded funds (ETFs) in the United States in 2025.

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