shocking news sec has deceived court and ripple xrp to 85 000
according to the sec the documents will support her motion claiming that internal documents
related to a 2018 speech delivered by william hinman the agency's former director of corporate
finance are protected by attorney-client privilege welcome to the rich club channel if you like this
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the convenience of the court 10 samples of documents are grouped into three categories
explaining the details of the documents the sec noted that the documents of the
first category contained drafts of emails from david frederickson the former general counsel
of the agency's financial corporation where he discussed the necessary legal issues of the speech
the second category of sample documents contains an email dated june 11 2018 from
michael seaman hinman's lawyer which was sent to hinman frederickson and valerie stepanek
a former senior advisor on digital assets at the sec financial corporation it is noteworthy
that the email from seaman contained a draft of the speech which prompted hinman to seek legal
advice from his colleagues including the legal staff of the sec's investment management trading
and markets division the securities and exchange commission noted that the third category of sample
documents includes a draft letter received by hinman from seaman on june 11 2018 which
was sent by the former cfo of the corporation to lawyers in various sec departments to facilitate
the verification of the court a revised annex one is attached with the documents that the sec
is currently submitting for verification behind closed doors the sec concludes your community
xrp hashtag sekkaversus hashtag ripple hashtag xrp the securities and exchange commission has
submitted to the court for a closed review three categories of documents related to its petition
which claims that attorney-client privilege protects internal documents related to hinman's
speech hinman's speech on june 14 2018 became an integral part of the ongoing litigation
between ripple and the securities and exchange commission assisi the speech which many call
the free ethereum pass is seen by ripple and individual defendants as a mandatory tool for
rejecting the argument that the cryptocurrency offer violated u.s security laws however all
the efforts of the blockchain company aimed at ensuring that the sec provided the documents
that resulted from the wording of the speech did not yield positive results the securities
and exchange commission sought to protect hinman's documents despite being ordered to hand them over
twice in a new statement the sec said that the document is protected by attorney-client privilege
according to the sec hinman discussed the legal implications of the speech before it was made
public which was condemned by ripple since the two parties did not come to an agreement on the sec's
requirement of attorney-client confidentiality regarding the documents judge sarah netburn
invited the parties to a conference to discuss all issues related to the documents unfortunately no
decision was made as the conference was postponed to a later date interestingly the ripple community
is enthusiastic about the fact that the court can force the sec to hand over the documents to ripple
the securities and exchange commission as you see opposed ripple's proposal to classify one of the
documents marked as exhibit 0 in connection with amici's request to participate in the examination
of expert testimony in a motion filed with the sec yesterday the agency noted that ripple's
statement that exhibito contains classified confidential business information does not
automatically qualify as a document sealing order hashtags are community hashtag seca v
hashtag ripple hashtag xrp the u s securities and exchange commission has filed an objection to the
ripple defendant's motion to close the capio in connection with amici's request to participate
in the sec's expert objection the securities and exchange commission has stated that ripple has no
real reason why it intends to seal exhibit 0 because its statement that the document
contains confidential business information is false the securities and exchange commission
added that the main reason ripple is trying to seal appendix o is to protect the company from
disclosing a document that raises questions about the defendant's motives in the lawsuit
the fact that the document puts the party in a bad light or harms the party on the merits of
the case is not a legally valid reason for sealing the sec noted according to a recent motion the sec
disagreed with ripple's sealing decision on the grounds that the court has already ruled that it
does not allow documents to be sealed only because their contents are subject to a protective court
order access to court documents accordingly the securities and exchange commission respectfully
requests the court to reject the defendant's motion to close the evidence about and the
corresponding link in the amicus objection note the securities and exchange commission concluded
the situation on the cryptocurrency market remains negative the fear and greed index
was at seven on june 15th and 16th today at nine xrp is experiencing the same difficulties as the
rest of the market but at the same time it looks much better than its neighbors in the top ten
over the past 24 hours its price has not suffered and in a week it has lost more than 18 percent of
its value this is much less than bitcoin more than 30 percent and half as much as ether 38
another positive point that can be noted is that over the past week the inflow of funds
from institutional investors has demonstrated although this amount was insignificant but
compared to the huge outflow of funds from bitcoin and ethereum this is clearly a positive
moment against the background of the prevailing negative sentiment in the market data provided by
coin shares showed that last week institutional investors massively withdrew their funds from
exchange-traded products based on cryptocurrency the negative outflow of 102 million over the past
week indicates a decrease in the propensity for risky assets among institutional investors
at the same time almost the entire volume fell on the two leading cryptocurrencies the outflow
in bitcoin amounted to 57 million dollars and in ethereum 41 million dollars the current price of
xrp for today you can see yourself on the screens and the trading volume for 24 hours is one two
nine four four three six zero six five us dollars we are updating our xrp price in us dollars in
real time xrp has dropped four eight percent in the last 24 hours now it is time to reveal who is
the lucky winner of our giveaway we randomly selected one fan who fulfilled all the conditions
and the winner is tom moore congratulations tom moore so xrp army let's all congratulate tom morp
in the comments section below and tomorrow we will relaunch our weekly giveaway free 500 xrp
now let's get back to the video do you think xrp will be able to win the court and restore its
former price write the answers in the comments that's it for today thank you for watching this
video to the end if you liked it then don't forget to like it and subscribe to the channel