Thursday, December 8, 2022
 

Court to Serve Subpoenas to Verify Videos of SECs’ Public Remarks

  • Judge Netburn granted the Ripple Defendants’ Motion to serve two subpoenas to authenticate videos of seven SEC officials’ public remarks.
  • The court also ignored the SEC’s claim that the defendants were trying to reopen fact discovery.
  • Among the videos is the infamous Hinman speech.

Earlier today, defense lawyer James K. Filan tweeted that Judge Netburn granted the Ripple Defendants’ Motion to serve two subpoenas to authenticate videos of seven SEC officials’ public remarks.

Moreover, the judge ignored the SEC’s claim that the defendants were trying to reopen fact discovery, which is a period of time during which the parties are entitled to an exchange of information about the case.

For a while now, the SEC has been trying to block XRP holders from testifying at the trial in Ripple’s favor. Last month, the SEC alleged threats against its expert and asked Judge Torres to revoke the amici status granted to XRP holders. It also requested to bar lawyer John Deaton from participation in the case.

In its latest endeavor, the SEC is trying to block Ripple from bringing into court recorded videos that could prove inconsistencies in the SEC’s charges against the crypto company. Among these videos is the infamous speech given by the former SEC Director, William Hinman. In Hinman’s speech, which has had its fair share of controversy, the executive stated that Ether (ETH) had turned from a security to a non-security as it became sufficiently decentralized. 

Many speculate that this speech is perhaps the greatest trump card that Ripple has in this trial. Following Filan’s tweet today, Twitter users have expressed their happiness over this new development. “Now this is good news!” declared one user. Another asked, “Do you get the feeling that Judge Netburn is getting tired of the SEC’s foolishness?”

For the uninitiated, in 2020, the SEC sued Ripple Labs for issuing and selling unlicensed securities, XRP tokens, to the public. The SEC and Ripple have been embroiled in a legal battle ever since.

  • Judge Netburn granted the Ripple Defendants’ Motion to serve two subpoenas to authenticate videos of seven SEC officials’ public remarks.
  • The court also ignored the SEC’s claim that the defendants were trying to reopen fact discovery.
  • Among the videos is the infamous Hinman speech.

Earlier today, defense lawyer James K. Filan tweeted that Judge Netburn granted the Ripple Defendants’ Motion to serve two subpoenas to authenticate videos of seven SEC officials’ public remarks.

Moreover, the judge ignored the SEC’s claim that the defendants were trying to reopen fact discovery, which is a period of time during which the parties are entitled to an exchange of information about the case.

For a while now, the SEC has been trying to block XRP holders from testifying at the trial in Ripple’s favor. Last month, the SEC alleged threats against its expert and asked Judge Torres to revoke the amici status granted to XRP holders. It also requested to bar lawyer John Deaton from participation in the case.

In its latest endeavor, the SEC is trying to block Ripple from bringing into court recorded videos that could prove inconsistencies in the SEC’s charges against the crypto company. Among these videos is the infamous speech given by the former SEC Director, William Hinman. In Hinman’s speech, which has had its fair share of controversy, the executive stated that Ether (ETH) had turned from a security to a non-security as it became sufficiently decentralized. 

Many speculate that this speech is perhaps the greatest trump card that Ripple has in this trial. Following Filan’s tweet today, Twitter users have expressed their happiness over this new development. “Now this is good news!” declared one user. Another asked, “Do you get the feeling that Judge Netburn is getting tired of the SEC’s foolishness?”

For the uninitiated, in 2020, the SEC sued Ripple Labs for issuing and selling unlicensed securities, XRP tokens, to the public. The SEC and Ripple have been embroiled in a legal battle ever since.

 

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