3 months ago 2 min read

Minor Victor for Ripple in Ongoing Legal Battle With SEC


The federal judge in the ongoing legal dispute allowed a joint request from all parties to extend the Daubert motion deadline. Following the announcement, Ripple and the SEC jointly filed a motion to extend the deadline for filing the Daubert motions until January 13, 2023. As a result of the judge's favorable decision, Ripple is now able to redact records related to Daubert motions.

According to a tweet from defense attorney James K. Filan, "Both parties file joint requests for an extension of time, until January 13, 2023, to submit the Daubert Motions and related exhibits on the public docket with redactions consistent with the court's December 19, 2022 sealing judgment."

SEC vs. Ripple

Nearly two years have gone since the United States Securities and Exchange Commission threatened to sue Ripple (SEC). At the end of 2020, the SEC filed a lawsuit against Ripple Labs Inc. for selling XRP tokens on its platform. According to the SEC, it falls under unregistered securities.

Even though XRP was not listed as a security, the SEC believed that Larsen and Garlinghouse had started trading illegally with the cryptocurrency. Users might still purchase XRP through it. The SEC further stated that Ripple made money from non-cash transactions and encouraged customers to pay with XRP to boost token sales. By selling XRP tokens on the network, Ripple Labs Inc. increased its funding to $1.3 billion between 2013 and 2020.

Advocate for Ripple Leaves the Ongoing Lawsuit

Nicole Tatz, one of the lawyers representing Ripple in the ongoing legal matter, recently submitted a motion to step out as Brad Garlinghouse's counsel. She leaves the American multi-national law firm Cleary Gottlieb Steen and Hamilton LLP, which is presently defending Ripple in the continuing legal dispute. All other attorneys are still working on the case in the interim.

A recent FTX-related meme featuring the DC comics superhero Batman hitting Robin was tweeted by Brad Garlinghouse. When Wells Fargo mismanages billions of dollars in customer assets as well, it barely registers on the public's radar, the CEO of Ripple tweeted:

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