Brad Garlinghouse, Ripple’s CEO, believes that a verdict in its costly lawsuit with the US Securities and Exchange Commission (SEC) is coming soon. Garlinghouse expects a decision in the weeks and not months following recent court news related to the Hinman documents.
The XRP Suit May Be Over Sooner Than You Think
Bradley Garlinghouse has indicated that a court case resolution is coming soon after the release of the infamous William Hinman material.
recently Interview At the Redefine Tomorrow 2023 summit, Garlinghouse revealed that given where things currently stand in the court battle with the SEC, he is confident of a decision in the coming weeks.
The Ripple CEO pointed to a recent court decision where the SEC’s motion to keep the Hinman documents under wraps was rejected by a federal judge.
In early 2021, Ripple cited the landmark Hinman speech as a sign that the SEC does not consider Bitcoin or Ethereum to be securities, arguing that XRP should not be classified as a security. crypto payment then firm Filed for Freedom of Information Act request Which would uncover docs explaining how Hinman came to this conclusion.
At the time, the SEC responded by claiming Hinman’s speech represented his personal opinion and not agency policy. To that end, the SEC wanted to shield documents related to the speech from the public eye, while also arguing that the material is protected by a statute that grants confidentiality to internal deliberations.
but as ZYCrypto Recently reported, the court believes that these speech drafts and emails are judicial documents and should be made public. The move was seen as a significant victory for Ripple, which believes these internal deliberations and discussions are important evidence in its ongoing litigation.
Hinman email to give Ripple an edge?
Commenting on the upcoming disclosure of the Hinman material, Pro-Ripple Attorney John E. Deaton noted,
“I can’t wait for these emails to be released. My guess is that even non-XRP holders, including Ripple critics, will objectively say that what the SEC did was absolutely wrong. The interrogation will kick into a high gear – mark my words.
After completing all the briefings, the audience is now waiting for the summary judgment verdict. Garlinghouse’s comment that he expects a decision in weeks’ time is being interpreted by some in the XRP community as a sign that he anticipates a favorable decision by the presiding judge.