{"id":34104,"date":"2025-01-08T12:14:00","date_gmt":"2025-01-08T12:14:00","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=34104"},"modified":"2025-01-08T12:14:00","modified_gmt":"2025-01-08T12:14:00","slug":"pro-xrp-lawyer-claims-the-sec-played-dirty-in-the-lawsuit-against-ripple-details","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=34104","title":{"rendered":"Pro-XRP Lawyer Claims the SEC \u2018Played Dirty\u2019 in the Lawsuit Against Ripple: Details"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Ripple\u2019s lawsuit with the SEC remains unresolved, with the agency accused of unethical tactics, including harassing the company\u2019s CEO.<\/span>
\nPro-crypto SEC leadership changes could favor Ripple, though the case\u2019s complexity calls for cautious optimism.<\/p>\n

<\/a><\/span><\/h2>\n

The SEC Pushed \u2018Ethical Limits\u2019<\/h2>\n

The legal tussle between Ripple and the US Securities and Exchange Commission (SEC) is among the most intriguing topics in the crypto space. It all started in December 2020 when the agency sued the company, its CEO Brad Garlinghouse, and co-founder Chris Larsen, <\/span>accusing them<\/span> of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP.<\/span><\/p>\n

The<\/span> two entities have been <\/span>throwing punches at each other in the following years<\/span>, and despite <\/span>the<\/span> numerous developments and court rulings, the case remains ongoing.<\/span><\/p>\n

According to John Deaton (an American lawyer representing thousands of XRP investors in the <\/span>aforementioned lawsuit<\/span>), the SEC \u201cplayed dirty\u201d and pushed \u201cethical limits\u201d in the process. He claimed<\/a> that the Commission\u2019s attorneys \u201cengaged in abusive discovery tactics, threatening and harassing Ripple\u2019s overseas customers, investors, and partners.\u201d<\/span><\/p>\n

\u201cDespite having the records of every XRP transaction made by Garlinghouse, the SEC attempted to subpoena all of Brad\u2019s, and his family\u2019s, personal financial records, including credit card statements. It was an attempt to bully, threaten, and coerce Garlinghouse (and Ripple) into submitting to the <\/span>all powerful<\/span> SEC,\u201d he added.<\/span><\/p>\n

Deaton, though, maintained that the company\u2019s CEO endured the pressure, fought back \u201cevery step of the way,\u201d and eventually won.\u00a0<\/span><\/p>\n

\u201cI love America because two years and one <\/span>Presidential<\/span> election later, the future couldn\u2019t look <\/span>more<\/span> bright<\/span> for an industry, company and CEO,\u201d the lawyer concluded.<\/span><\/p>\n

It is worth mentioning that Deaton\u2019s post was <\/span>accompanied<\/span><\/a> by a photo of Garlinghouse, the newly elected president of the USA, Donald Trump, and Ripple\u2019s CTO Stuart Alderoty, who recently had dinner together. The XRP army interpreted this gathering as good news for the firm\u2019s potential growth in the near future and the performance of its native token.<\/span><\/p>\n

Earlier this month, Garlinghouse <\/span>credited<\/span><\/a> the substantial resurgence of the cryptocurrency market to Donald Trump\u2019s win in the presidential elections. He said Ripple signed more US deals in the final six weeks of the year than in the previous six months, while 75% of the firm\u2019s open positions <\/span>are now based<\/span> in America.<\/span><\/p>\n

Has Ripple Won the Case?<\/span><\/h2>\n

While the company notched several partial court wins, a final <\/span>resolution of the lawsuit<\/span> has yet to <\/span>be seen<\/span>. Last summer, Judge Analisa Torres\u00a0<\/span>ordered<\/span><\/a> Ripple to pay a $125 million civil penalty for violating federal securities laws through its institutional sales of XRP. <\/span><\/p>\n

It is important to note that in 2023, the same magistrate found that the firm\u2019s programmatic sales of XRP to retail clients through centralized exchanges did not breach the rules.<\/span><\/p>\n

Ripple respected the decision and was ready to pay the fine. After all, it represented just a fraction of the $2 billion the SEC initially requested.\u00a0<\/span><\/p>\n

However, the watchdog officially <\/span>appealed<\/span><\/a> in October, delaying the outcome indefinitely. The upcoming changes in the SEC\u2019s leadership, <\/span>such as replacing Chairman Gary Gensler with the pro-crypto Paul Atkins<\/span>, may result in a favorable resolution for Ripple. The XRP army, though, should have somewhat realistic hopes, considering the complexity of the entire legal process.<\/span><\/p>\n

The post Pro-XRP Lawyer Claims the SEC \u2018Played Dirty\u2019 in the Lawsuit Against Ripple: Details<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Ripple\u2019s lawsuit with the SEC remains unresolved, with the agency accused of unethical tactics, including harassing the company\u2019s CEO. Pro-crypto SEC leadership changes could favor Ripple, though the case\u2019s complexity calls for cautious optimism. The SEC Pushed \u2018Ethical Limits\u2019 The legal tussle between Ripple and the US Securities and Exchange Commission (SEC) is among […]<\/p>\n","protected":false},"author":0,"featured_media":34105,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-34104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/34104"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34104"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/34104\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/34105"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}