Marc Fagel warns against trusting AI chatbots like Grok for XRP lawsuit updates, refuting claims that the SEC has dropped its appeal, as the vote is still pending.
Marc Fagel, a seasoned securities lawyer, advises the XRP community against relying on Grok for nuanced legal insights as the Ripple vs SEC lawsuit is carefully monitored. The lawyer maintains that neither party has dismissed its appeal, despite Grok’s assertion that the SEC withdrew its appeal.
SEC Lawyer Warns: Do Not Trust Grok for XRP Case Updates
The XRP litigation is currently the subject of much discussion within the XRP community, with many individuals inquiring whether both parties have withdrawn their appeals. There are even rumors that the SEC may withdraw its appeal today.
An X user suggested that the SEC officially withdrew its appeal in the XRP litigation, citing updates from Grok, an AI chatbot developed by Elon Musk’s xAI. The user reported that the platform verified the SEC’s appeal withdrawal during a conversation with Grok. Grok observed that the U.S. Securities and Exchange Commission (SEC) withdrew its litigation against Ripple.
Nevertheless, Marc Fagel, a former SEC lawyer who has offered vital insights into the case over the past few months, refuted these assertions. Fagel has asserted on numerous occasions that neither Ripple nor the Securities and Exchange Commission has officially filed to terminate their appeals, and that internal procedures could take up to two months. He shared an X post reiterating his stance, contending that neither party has withdrawn the appeals.
Additionally, he cautioned against the overreliance on the AI platform, stating, “Do not depend on Grok for intricate legal matters.” Fagel further underscored his argument by asserting that “Grok doesn’t understand litigation at all” as an AI tool.
Reality Check: What is the Present Status of the Ripple vs SEC Case?
Additionally, Marc Fagel provided the URL to Ripple’s Court of Appeals docket. He emphasized that the information will be publicly accessible for all to view and share once the parties file to dismiss their appeals. The text of his post was as follows,
And as a courtesy to you, because I’m such a nice guy, here’s the link to Ripple’s Court of Appeals docket. So when the parties DO file to dismiss their appeals–which, again, neither has done yet–you can see for yourself and tell the world!
Intriguingly, many individuals anticipate that the Ripple vs SEC case will be officially resolved by the deadline for the status report on August 15. The SEC counsel, on the other hand, emphasized that the deadline is not clearly associated with the XRP lawsuit settlement. Nevertheless, he believes both parties will likely abandon their appeals before August 15.
