The lawsuit between Ripple and the SEC has been ongoing since the end of 2020, but it is still not over. Yet there are increasing indications that the end is in sight. One of Ripple’s most popular lawyers thinks the end will be in July.
Ripple lawsuit over soon?
Jeremy Hogan writes on Twitter that the judge makes a big decision in the case every nine weeks. The last time was May 16. There is only one big decision left for her to make, which is judgment. If the pattern is correct, the judge will give the result in mid-July. He does emphasize that it is not a prediction, it is only a pattern.
The Judge in the Ripple case has been making major rulings about every 9 weeks (Sept. 29, Dec.19, March 6, May 16). And the only major ruling left is on Summary Judgment.
That comes out to mid-July.
NOT a prediction. JUST a pattern. https://t.co/jUM5GNG7Th
—Jeremy Hogan (@attorneyjeremy1) May 25, 2023
A few days ago, Ripple CEO Brad Garlinghouse stated that he also expects a result very soon. He even thinks it won’t be a few months, but only a few weeks. You could argue that mid-July is a little longer than a few weeks, but it’s pretty close.
Hinman Documents Good for Ripple?
It is also interesting that the court has ruled that the so-called Hinman documents must be made available to Ripple. These are the emails that former SEC director Bill Hinman exchanged with the Ethereum Foundation. It should state, among other things, that Hinman was in fact bribed by the Ethereum Foundation, so that ether (ETH) was not treated as an unregistered security.
On Twitter, another popular lawyer in the community, John Deaton, stated that the documents are likely to be made public because the SEC has been so inconsistent with Hinman’s speech. At first this speech was Hinman’s personal opinion, but later the SEC found that it was an official guideline from the policymaker.
Good pickup here on the difference, but the Hinman speech documents being ruled discoverable and NOT privileged had nothing to do with the disclaimer and everything to do with the SEC lawyers taking hypocritical and inconsistent positions regarding the speech. https://t.co/uJRPg8XDS8
— John E Deaton (@JohnEDeaton1) May 26, 2023
Unfortunately, Ripple is now completely done with the crypto policy of the United States. Garlinghouse said he was furious about the lawsuit because it hurt investors considerably.