As reported by CryptoPotato, Ripple's legal confrontation with the U.S. Securities and Exchange Commission (SEC) has intensified in recent weeks. An important reason for this legal case, which began in December 2020, is the trial process that began on April 23. On April 29, the regulator followed the rules and opposed Ripple's motion to dismiss the new expert materials. The effort focused on the testimony of key witness Andrea Fox (known as the "Fox Statement").
The SEC claims that the “Fox Statement” contains data extracted from documents generated by Ripple itself, including tax filings and financial statements, which may be useful in determining the outcome of the lawsuit. However, Ripple countered that the SEC failed to prove that the statement was summary evidence rather than expert testimony.
U.S. attorney Jeremy Hogan predicted that the lawsuit could be formally concluded this summer with a $100 million settlement, which is far less than the $2 billion fine sought by the SEC and far more than the $10 million Ripple agreed to pay.