SEC v. Ripple: Next decision critical for settlement or “complete victory”

Rick Steves

“[Gary Gensler]’s been advised Ripple could achieve a complete victory. This makes Judge Netburn’s Reconsideration decision even more significant. Only when and if the SEC is forced to turn over the 63 Hinman speech emails (and possibly other notes) will the SEC come to the table (if then).”

Ripple, XRP holders, and the crypto ecosystem await Magistrate Sarah Netburn’s upcoming ruling on the SEC’s motion for reconsideration.

The SEC keeps fighting the production of relevant documents regarding ex-SEC William Hinman’s 2018 speech on Ether.

John Deaton, founder of CryptoLaw and attorney representing 65,000 XRP holders in the SEC v. Ripple lawsuit, has previously said this will be the biggest decision in the case.

63 Hinman emails could bring SEC to the table

The attorney seems optimistic about the outcome of that decision and the upcoming ruling on the Estabrook Notes, as he shared his predictions on Twitter.

“I’m going to go out on a limb and predict Judge Netburn denies the SEC’s motion for reconsideration, affirming her ruling that the 63 Hinman speech emails be produced. I’m also going to predict the Estabrook Notes regarding the meeting w/ Roisman must also be turned over.”

In January, he expressed that among the 63 emails were most likely notes from meetings with third parties, including Ethereum’s Joseph Lubin and executives from ConsenSys and VC Working Group. This amount of evidence could eventually tip the balance in favor of the defendants.

Deaton also pointed out that complete victory is within reach and this motion might be key to bring the SEC to the negotiating table and put an end to the XRP lawsuit.

“[Gary Gensler]’s been advised Ripple could achieve a complete victory. This makes Judge Netburn’s Reconsideration decision even more significant. Only when and if the SEC is forced to turn over the 63 Hinman speech emails (and possibly other notes) will the SEC come to the table (if then).”

XRP community-friendly attorney Jeremy Hogan, partner at the Hogan & Hogan law firm based in Orlando, Florida, has recently predicted that settlement could be around the corner, with his best guess being April or May.

Judge Sarah Netburn will be hosting the next round of settlement talks and, given that she has seen all the documents in camera and if the SEC is “the problem child here”, that could make a big difference, he said. “A good mediator can really work miracles sometimes.”

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