Fox reporter: Ripple has 14 days to file a counterclaim against the US SEC

Odaily Planet Daily News Fox Business reporter Eleanor Terrett posted on the X platform that Ripple's chief legal officer Stuart Alderoty said Ripple is considering an appeal. This means that Ripple can choose to appeal Judge Torres's ruling on institutional sales or a $125 million fine. Both appeals will be settled in a case in the Second Circuit. If Ripple does appeal, it has 14 days to apply, and the appeal starts tomorrow. Earlier, Ripple Chief Legal Officer Stuart Alderoty said he was considering whether to file a counterclaim against the US SEC, and posted on the x platform that the US Securities and Exchange Commission (SEC)'s decision to appeal was disappointing, but not surprising. This is just delaying a situation that has thoroughly embarrassed the agency. The court has rejected the SEC's suggestion that Ripple was reckless, there were no allegations of fraud in the case, and of course there were no victims or losses. Instead of faithfully enforcing the law, the SEC, under the leadership of current Chairman Gary Gensler, continues to wage a litigation war against the crypto industry. We are evaluating whether to file a counterclaim. Regardless, the SEC’s lawsuit was irrational and misleading from the outset, and we are ready to prove it again in the Court of Appeals (once again leading the way for the industry).