Jeremy Hogan, a prominent attorney in the XRP community, recently engaged in an exchange on X (formerly Twitter) about the ongoing SEC vs. Ripple case, offering insights into the potential financial repercussions for the fintech company. This discussion came in response to fellow pro-XRP attorney John E. Deaton’s comment: “The people who’ve argued that the SEC got a 50-50 victory in the Ripple case are 100% wrong. It was more like 90-10 in Ripple’s favor. If Ripple ends up paying $20M or less it’s a 99.9% legal victory.”

Employing his characteristic humor, Hogan likened his legal musings to resolving a marital disagreement, saying, “I was in a small argument with my wife last night, which means, I am thinking about ‘damages’ this morning.” He then shifted to discuss the legal aspects surrounding Ripple, noting, “The law allows the SEC to seek ‘disgorgement,’ penalties, and interest.” He clarified that disgorgement involves removing profits from rule violators like Ripple, and the court identified about $770 million in inappropriate XRP sales to institutional investors.

Here’s How Ripple Can Slash The SEC Fine

Hogan delved into several key arguments that could play in Ripple’s favor. Referring to the SEC v. Liu case, he pointed out, “Disgorgement is an equitable remedy which means that it should be ‘fair.’ And fair in this context means that it should be the violators NET profits, not GROSS.” This implies Ripple might reduce its liabilities significantly by deducting business expenses from the total sales.