Attorney Deaton highlights an excerpt of Judge Torres’ latest ruling that could mar Ripple’s chances of winning the lawsuit against the SEC.
As reported by The Crypto Basic, XRP community members are in high spirits after Judge Analisa Torres denied SEC’s motion to seal the draft of the 2018 controversial speech by former director of SEC Corporation Finance William Hinman.
As XRP enthusiasts took to Twitter to celebrate the milestone, a top community member, XRP Productions, created a Twitter space to demystify Judge Torres’ recent ruling. The Twitter Spaces is titled, “Hinman Emails DOXXED with John Deaton.”
John E. Deaton, the founder of CryptoLaw US, confirmed that he will be joining the Spaces today at 8 PM (EST).
Possible Bad News for Ripple?
In a tweet today, Deaton expressed concern that a portion of the ruling might jinx Ripple’s chances of claiming an outright win against the Securities and Exchange Commission.
Deaton highlighted a portion of the ruling as bad news. An excerpt of the ruling read:
“This financial data, which is related to Ripple’s XRP sales and payment to third parties to list XRP, directly pertains to the Howey analysis, a central issue in the parties’ summary judgment.”
The pro-XRP lawyer said he would discuss the implication of the remark today by 8 PM (EST).
Could there be bad news in this ruling? We can discuss at 8 pm EST pic.twitter.com/o0gUbDEjqB
— John E Deaton (@JohnEDeaton1) May 16, 2023
Notably, Judge Torres denied Ripple’s motion to seal information related to its XRP sales to On-Demand Liquidity (ODL) clients, the amount of compensation the blockchain company paid to crypto trading platforms to seal, etc.
It is unclear how this development will affect Ripple’s chances of winning the case against the SEC. However, Deaton has promised to comment on the remark in Spaces later today.
Summary Judgment Edges Closer
Meanwhile, the court has made significant progress toward issuing the summary judgment for the lawsuit. On March 6, Judge Torres ruled on Daubert’s motion, a request in which the parties sought to exclude expert witnesses’ testimony from the summary judgment.
While many thought the next major ruling would be the summary judgment, Judge Torres decided on the parties’ motion to seal.
Following Judge Torres’ decision on the parties’ sealing requests and Daubert’s motion, the summary judgment is expected to be around the corner. As reported earlier, Ripple expects the summary judgment to come before the year ends.
Follow Us on Twitter and Facebook.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.