- 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.
Also read: Is this gaming token ready to plummet after a 56% rally in the last week?
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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
This is why a mere 15% rally in Lido DAO price could be a game-changer for LDO holders
Lido DAO price is following the rest of the market due to the regulatory events that transpired in the last few days. However, the DeFi token is generally unlikely to pursue the path set by any other cryptocurrencies, including the likes of Bitcoin. This might play in favor of LDO.
LINK holders opt to sell as Chainlink price falls by 9% in a week, new investors on the rise
Chainlink price, after following the broader market cues, is nearing a key support level that was last visited by the coin in January this year. This has discouraged LINK holders to the point where selling has become a preferred option. However, newer investors are countering this selling by accumulating, preventing a severe decline.
Optimism price could rally 50% as network upgrade inspires new wave of OP adoption
Optimism (OP) price appears to have found support after a new buyer congestion zone came into effect to prevent the free fall. Accordingly, the Ethereum Layer 2 (L2) token is trading horizontally, giving bulls time to accumulate OP at affordable rates.
Binance CEO addresses chat records disclosed by the SEC
Binance CEO Changpeng Zhao has issued an internal address to company staff, asking them to focus on work and developing products people can use. The internal memo comes after the United States Securities and Exchange Commission (SEC) disclosed chat records between Binance employees in an attempt to support its case against the largest crypto exchange by trading volume.
Bitcoin: BTC targets $30,000 as short-term bias turns bullish
Bitcoin (BTC) price shows a clear sign of the bulls’ victory. After failing to trigger a steep correction, bears look now out of context, at least in the short term, allowing buyers to restart a minor uptrend.