BREAKING: Ripple Scores ENORMOUS Win Against S.E.C.• September 29, 2022 8:45 pm • Comments
Ripple Labs has just scored a major win against the S.E.C…
The S.E.C. has fought tooth and nail to keep the speech and communications surrounding the speech from the court and the public…
Previously, the agency was ordered to hand over the speech, however, appeals and stall tactics were employed to shield the revelatory information from entering the lawsuit, presumably due to the damning nature of the evidence.
You can read Judge Torres’s ruling here.
John Deaton took the chance to celebrate on Twitter, here’s what we currently know:
I was trying to decide what would be most fitting to eat in celebration 🍾 🎉 of the Judge 👩⚖️ Torres ruling ordering the @SECGov to TURN OVER the Hinman emails, comments and drafts of his speech. Then I opened the fridge and the answer smacked me in the face! pic.twitter.com/d4hwMSum5Y
— John E Deaton (216K Followers Beware Imposters) (@JohnEDeaton1) September 29, 2022
@WarrenDavidson set up @SECEnfDirector perfectly in this clip. Why can’t @SECEnfDirector answer if Hinman speech was submitted to ethics? Why can’t he answer if Hinman consulted w/staff & others at SEC about speech, is it considered SEC guidance? @GaryGensler👉A New Day is Coming pic.twitter.com/22SrEMqHxF
— Mickey_B_Fresh☀️ (@MrFreshTime) September 30, 2022
Crypto Potato reminds readers:
The SEC was initially called upon to turn over the documents by judge Sarah Netburn in January, finding that they were not protected by deliberative process privilege (DPP).
The SEC objected to the order in the following month, claiming that the internal speech documents were not relevant to any claim or defense in the case. It also argued that the DPP does, in fact, protect internal speech documents, as does attorney-client privilege.
Maybe the SEC already was preparing to hand over the documents; hence why they finally released hinman’s calendar to go along with the rest of the bs in those speech draft documents.. Hinman is the fall guy… #xrp #ethgate
— Jay’V (@JayVTheGreat) September 29, 2022
Just sad. Hours before Hinman announces the SEC's position on Bitcoin & Ethereum to the public, he met with crypto investment managers. Institutionalised insider trading. Or does someone want to explain me that Billy didn't tell these private companies about his upcoming speech? pic.twitter.com/ioIdpNjyj3
— stefan huber 🔥🦅🔥 (@Leerzeit) September 28, 2022
Bein Crypto explains the effect on XRP’s price action:
Following the news, XRP’s price rose 10% and is trading at $0.50 at the time of writing. It is still down 85% from its all-time high of $3.40. The SEC lawsuit has been blamed for the coin tanking.
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