Jimmy Vallee, managing director of Valhil Capital, has confirmed plans to pursue a $500 billion restitution effort for XRP holders. The move announced through a series of tweets, signals the next major step in a growing effort to address losses caused by the SEC’s enforcement actions against Ripple Labs.
Vallee revealed that the Crypto Justice Coalition will lead the restitution campaign, a group he says will represent XRP holders seeking compensation for the damage done since the SEC’s lawsuit began in December 2020.
He clarified that the initiative would not start through the federal courts, citing concerns over the system’s fairness.
“There is no lawsuit, but there definitely should be,” one user wrote, pointing to the absence of a formal class action despite over 76,000 XRP holders expressing interest during the early stages of the Ripple case. In response, Vallee said these individuals would be welcomed into the Coalition.
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Vallee emphasized that the SEC’s actions resulted in material damages to XRP holders, mainly due to the token’s sharp drop in value following the lawsuit. XRP fell more than 75 percent within days of the SEC’s complaint, as multiple exchanges delisted the asset.
Moreover, Vallee claimed that the XRP price would have been three times its previous all-time high of $3.4 if the SEC had not pursued legal action against Ripple.
Vallee Eyes XRP Restitution Without Relying on Federal Courts
Vallee declared through his online posts that the Crypto Justice Coalition would postpone taking their case to federal court. The courts’ ” blatant corruption ” caused him to doubt standard court procedures.
The situation regarding John Deaton’s possible class action lawsuit against the SEC remained unclear to Vallee, so he declared he lacked information about this potential move. According to him, any future class action engagement must undergo a thorough evaluation before taking action.
The recent comments from John Deaton have shed light on the 76,000 XRP holders who supported the Amicus brief presentation for Ripple during the court proceedings. The Coalition dedicates its new strategic approach to activating past XRP investors to secure meaningful compensation.
The Coalition’s membership base continues to expand as interest from potential new members has already begun to increase.
One user on X by the name @VMVCLibertad requested signup information, and Vallee said that new details about the signing process would be released Soon. Vallee expressed gratitude toward users while showing that the group works persistently to build what might turn into a substantial initiative.
Conclusion
Momentum is building in the XRP community as Jimmy Vallee’s $500 billion restitution push gains visibility. With federal court action off the table, the Crypto Justice Coalition aims to chart its path toward compensation for thousands of affected XRP investors.
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