us government supports ripple against the sec xrp to 95 000 a lawsuit between the u s securities and
exchange commission sse and ripple is awaiting a decision on hinland's speech lawyer john deaton
hinted that a decision on this issue could be made by the end of this week welcome to the rich
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subscribe judge netburn has yet to decide whether hinman's emails and related documents fall under
the sec's proposed attorney-client privilege while judge torres must decide on the motion of the u
s securities and exchange commission to prohibit xrp holders from submitting a brief opinion on the
report of the agency's expert patrick duty eleanor terrett a fox business journalist
reported that according to john deaton a decision on the issues mentioned could be made this weekend
the decision on hinman's speech may prove to be a big breakthrough in this protracted case
the sec's repeated allegations about the speech and related documents have already caused a major
delay in the case meanwhile judge annalisa torres announced her response to the defendant's motion
against the sec nevertheless the court asked the supervisory authority to make the proposed
revision of ripple's response in the letter the judge mentioned that the court had studied the
defendant's response to the opposition briefing of the securities and exchange commission
she added that their letter about sealing this response has also been reviewed
attorney james phelan tweeted that judge torres in her response gave the securities and exchange
commission the opportunity to propose its own amendments against the defendants by june 23
2022 the court also asked the commission to submit a letter explaining its proposal
meanwhile phillyn emphasizes that the court wants to see what the commission wants to edit
and then make a decision in accordance with it the securities and exchange commission was given
the opportunity to amend ripple's response to its objection to amici's request to participate
in the upcoming expert competition after ripple's request that its response to the sec's objection
to amici's participation in the ongoing lawsuit be published publicly the court stated that it
would allow the defendants to submit a response to the public list only after the securities
and exchange commission makes the proposed revisions to the blockchain company's response
according to a recent order the securities and exchange commission is instructed to
study ripple's response and make the proposed corrections by june 23 2022 if the sec has any
suggestions for editing ripple's response the sec will have to submit a letter explaining why it
does not want some parts of the response to its objection to be published in the public domain
accordingly by june 23 2022 the sec must file any proposed revisions of the defendant's response and
a letter explaining its proposal judge annalisa torres ordered the court's ruling was shared by
lawyer james k phelan on his twitter page who explained the development of events by saying
judge taurus says that before she allows the defendants to file a response publicly
the sec gets a chance to say whether there is something in the response that shouldn't
be public and why she wants to see what the securities and exchange commission wants to
edit and then make a decision on all issues at the same time this event occurred less than two
weeks after ripple and individual defendants chris larson and brad garlinghouse demanded
that the court make public its response to the securities and exchange commission's objection
to amici's participation in the upcoming review of expert reports at the time the defendant said
that although he had filed his response to the securities and exchange commission's objection
to amici's participation in a sealed manner he was open to putting the response on the public list
today we have classified our response out of respect for the upcoming court decision on the
still unresolved petition of the securities and exchange commission recall that the sec asked
to classify its objections to amici's request to participate in the review of expert reports
the agency noted that its decision to file an objection to amici's participation is due to
the desire to protect the expert from any form of attacks and harassment by xrp investors directly
affected by the ongoing litigation however ripple does not consider the reason given by the sec
to be sufficient for filing the entire objection classified which prompted the court to demand that
the agency make the proposed revision to sections that may jeopardize the expert's safety attorney
john deaton a lawyer who received damichi status in a lawsuit between ripple and the securities
and exchange commission assisi noted that recent market events have shown that the price of xrp is
not affected by the blockchain company the lawyer claims that xrp is heavily dependent on bitcoin
btc which contradicts the sec's claim that ripple executives brad garlinghouse and chris larson
made significant efforts to influence the price of the cryptocurrency supporting his argument
lawyer deaton noted that despite the fact that ripple has made important announcements over
the past few weeks its cryptocurrency has fallen significantly recall that ripple announced in may
2022 that its on-demand liquidity odl recorded a significant increase while other cryptocurrency
related businesses are laying off employees due to the collapse of the cryptocurrency market
ripple announced that it will recruit hundreds of employees in the coming weeks confirming that
the downturn in the market has not affected the company despite these positive statements from
ripple xrp has not grown instead the price has fallen along with bitcoin suggesting that the
value of xrp is largely correlated with the upper asset class over the past month the price of x rp
has fallen by 21. one percent and over the past two weeks the value of the cryptocurrency has
fallen by 18. six percent at the time of publication xrp is trading at zero dollars
32 with an increase of three five percent over the past 24 hours meanwhile deaton's lawyer noted
that the experts on the claim submitted their reports and the necessary testimony was given
one of the sec experts who will testify in the lawsuit dr albert metz will provide detailed
information to determine whether the actions of garlinghouse and larsen directly affected
the price of the xrp coin the examinations have been submitted the testimony has been completed
but the last few weeks have completely proved that the price of hashtag xrp is determined not
by ripple but by bitcoin garlinghouse announced that the odl has increased six to eight times
and ripple is hiring employees and others are laying off however the price of hashtag xrp
deaton's lawyer tweeted 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 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