CEO of Ripple Says Game-Changing Decision Is Coming ‘In Weeks’ After Hinman Speech & Documents Win
Even though this case has worried XRP holders, Garlinghouse has revealed that Ripple would spend $200 million defending itself against the SEC.
After hearing the latest court news on the Hinman papers, Garlinghouse anticipates a judgement in weeks rather than months.
After the publication of the well-known William Hinman documents, Bradley Garlinghouse has intimated that a court case conclusion is imminent.
In a recent interview at the Redefine Tomorrow 2023 symposium, Garlinghouse discussed the current status of his legal battle with the SEC and expressed optimism that he would get a ruling within the next few weeks.
The CEO of Ripple cited a recent court judgement in which a federal judge denied the SEC’s request to seal the Hinman papers.
In 2021, Ripple argued that XRP shouldn’t be categorised as a security on the grounds that the SEC does not consider Bitcoin or Ethereum to be a security. The cryptocurrency payments company then made a Freedom of Information Act request to get the paperwork that might shed light on Hinman’s thought process.
Back then, the SEC shot back that Hinman’s comments were his own and not reflective of official agency policy. The SEC sought to keep the materials associated with this speech secret on the grounds that they are covered by a law protecting the confidentiality of workplace discussions.
However, as previously reported by ZyCrypto, the court has decided that the mentioned speech draft and emails should be made public since they constitute judicial papers. This was seen as a major victory for Ripple, who views these notes from within as crucial evidence in the continuing case.
In light of the impending release of the Hinman documents, pro-Ripple attorney John E. Deaton made the following observation:
“When these emails are finally made public, I will be very happy. In my opinion, even those who aren’t XRP holders, such as Ripple’s critics, will eventually come to the conclusion that what the SEC did was incorrect. Believe me when I say that we will be asking further questions about why this lawsuit was filed.”
After all the briefings have been submitted, the audience is waiting for a summary judgement ruling. Some members of the XRP community have taken Garlinghouse’s statement that he anticipated a verdict in a matter of weeks as evidence that he believes the court will rule in his favour.