Brad Garlinghouse indicates that the upcoming disclosure of Hinman’s documents will significantly accelerate the long-running legal proceedings. In his view, the verdict is no longer a matter of months, but weeks.
Optimism around XRP
The words of Bradley Garlinghouse resounded behind the scenes of the global cryptocurrency scene, suggesting that the resolution of the months-long court battle will take place immediately after the disclosure of William Hinman’s controversial materials.
During a recent interview at the Redefine Tomorrow 2023 Summit, Garlinghouse decided to share his thoughts on the ongoing dispute with the SEC. He confidently announced that a decision on the matter will be made in the coming weeks, raising high hopes in the hearts of market observers.
The Ripple CEO welcomed the recent court ruling that denied the SEC’s request to keep Hinman’s documents secret. This was an important step forward for Ripple, as this information is expected to influence the final outcome of the dispute.
In 2021, Ripple referenced Hinman’s landmark speech, which indicated that the SEC does not treat Bitcoin or Ethereum as securities, and therefore XRP should not be classified as such either. In response, the crypto payments company filed a request under the Freedom of Information Act to gain access to documents that would explain on what basis Hinman came to such beliefs.
Is the SEC losing the battle, or will it also lose the war?
In response to the initiative, the SEC took the position that Hinman’s speech reflected only his personal opinions and not the agency’s official policy. That’s why the Commission’s representatives decided to hide documents related to the speech at the time, arguing that they were protected by laws that take care of the privacy of internal procedures.
However, as we know, the court considered Hinman’s materials to be court documents, which, moreover, should be made public. This announcement was seen as a key victory for Ripple, which considers its internal procedures and discussions to be important evidence in the ongoing dispute.
The countdown has begun
John E. Deaton, a lawyer supporting Ripple, commented on the upcoming disclosure of Hinman’s materials, noting:
“I look forward to the disclosure of these emails. I predict that even people who don’t own XRP, including Ripple critics, will have to objectively conclude that the SEC’s actions are completely wrong. This investigation into the motives behind this lawsuit is moving to the next level.”
Hope is rising among Ripple supporters for a final breakthrough and winning this long-running battle. The court’s verdict could have a significant impact on the future of XRP and the cryptocurrency industry as a whole, as well as on the formation of regulations in the sector.