SEC v. Ripple: John Deaton says Hinman documents will be made public and support defense for Coinbase, Binance
- Ripple proponent John Deaton believes Judge Analisa Torres will make William Hinman emails “judicial documents.”
- Judicial documents are open to the public and the emails could help Coinbase, Binance and other exchanges build their defense.
- As the legal battle between the US financial regulator and Ripple ensues, the XRP-friendly lawyer believes there is a 75% chance Hinman emails will be made public.
XRP-friendly lawyer John Deaton believes Hinman emails are key to the legal battle between US financial regulator Securities and Exchange Commission (SEC) and payment giant Ripple. Deaton believes that email documents could help cryptocurrency exchanges build their defense to tackle allegations of unregistered securities sale.
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John Deaton argues importance of Hinman documents being made public
Crypto-friendly lawyer John Deaton expressed the importance of Hinman documents being made public. Deaton told his 250.9K followers on crypto Twitter that there is a 75% possibility of Hinman emails being made public.
Regarding the Hinman emails and speech drafts: the SEC has requested for them to remain sealed, even after Judge Torres’ ruling on summary judgment. I believe the emails and speech drafts will be made public at some point, regardless of Judge Torres’ decision on whether to seal. https://t.co/BcYTuh9QrW
— John E Deaton (@JohnEDeaton1) March 19, 2023
The most recent update on the SEC v. Ripple case is that the financial regulator requested for the documents to remain sealed even after Torres’ ruling on the summary judgment. While Deaton is confident that the speech drafts will be made public at some point, the lawyer tweeted that cryptocurrency exchanges that are likely to be sued by the SEC at some point in the near future will need the documents to build their defense.
Or she still ✍️ her decision and deciding whether she is going to cite to them or rely on them in any way thus making them “judicial documents” that must be made public.
— John E Deaton (@JohnEDeaton1) March 19, 2023
Deaton believes that ERC20 tokens governed by the Ethereum blockchain like DRGN will find the documents more relevant than they are to the payment giant’s defense.
@dragonchain was sued and is in active litigation. #DRGN is an ERC20 token governed by the Ethereum Blockchain. You don’t think they will seek to get these emails and drafts to help with their defense? There are orders already in place that have denied any privilege claims.
— John E Deaton (@JohnEDeaton1) March 19, 2023
SEC v. Ripple legal battle drags on with no conclusion in sight
XRP price yielded 53% losses for holders over the past year and nearly 3% decline since March 19. The legal battle between the US financial regulator and the cross-border remittance firm has ensued for over two years with no end in sight.
While XRP holders are awaiting an outcome in the tussle between the SEC and Ripple, Deaton has taken steps to seek the release of the Hinman emails. Deaton filed a Freedom of Information Act (FOIA) request seeking the release of Hinman drafts and expressed his intention to litigate the matter.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
