UPDATE: Ripple and SEC reach a deal ahead of deposition about speech on ETH

Rick Steves

On Friday, both parties announced they made progress in regard to the privilege issues and planned to further narrow and resolve those issues relating to Mr. Hinman’s deposition.

With one week to go before the deposition of William Hinman takes place, the plaintiff and defendants have jointly sent a letter to Judge Sarah Netburn announcing they have reached a deal so that the testimony goes smoothly.

“We have reached an understanding, reflecting a compromise by all parties, pursuant to which the Defendants may examine Mr. Hinman on various issues without triggering a privilege objection from the SEC”.

Last week, the Judge ordered the deposition to go forward despite the immense resistance from the SEC – “desperate”, according to attorney Jeremy Hogan.

On Friday, both parties announced they made progress in regard to the privilege issues and planned to further narrow and resolve the issues relating to Mr. Hinman’s deposition.

Ripple gains higher ground for XRP, SEC plagued with top-level infighting

Despite the understanding reached between the SEC and Ripple, some remain skeptical about the progress made. “I will be surprised if the parties do not come to her after the deposition to get a ruling on the privilege “deliberative process” issue”, said XRP Holders’ attorney John Deaton.

“They may have agreed to ask certain questions and allow him to answer those questions under seal and then get a ruling after the fact”.

Deaton has previously suggested ten basic questions for the deposition that don’t fall under the privilege argument, but a Special Master may still be required to rule on the potential stream of objections.

At the center of the deposition of the ex-SEC Director of Corporation Finance will be his speech in 2018 about Ether as he said it is not to be considered a security. That triggered an intense market reaction and many deals were made at the time and after that, but also many questions have arisen.

Ripple Labs intends to raise some of those questions, in a move that could both expose the SEC for its missteps and put pressure on ETH as its nature as a non-security could be revisited.

 

You might want to read this:

SEC Commissioners drop bombshell that could save Ripple from lawsuit over sale of XRP 

SEC v. Ripple: Lack of clarity admission is “gift from the heavens” for Ripple and XRP 

Ripple’s XRP ventures into tokenization, SEC Gensler warns of security issue: “Make no mistake”
 

Read this next

Digital Assets

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

Digital Assets

Bybit expands into Europe amid regulatory scrutiny

Dubai-based cryptocurrency exchange Bybit is expanding its operations in Europe after encountering regulatory challenges in Hong Kong.

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

<