Gary Gensler, chair of the Securities and Exchange Commission. Gensler, continues to litigate the case, which, if successful, would have far-reaching regulatory implications for the $1 trillion crypto industry.(Bill Clark/pool/AFP via Getty Images / Getty Images)

Netburn’s most recent ruling dismissed the SEC revision to its argument that Hinman wasn’t merely stating a personal opinion, but making an argument on behalf of the government thus retaining a level of confidentiality.

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The legal tussle over the Hinman drafts began in January, when Judge Netburn ordered the SEC to turn over other documents to the court while she weighed whether Ripple could gain access to them.

The SEC is expected to appeal Judge Netburn’s ruling to Federal District Judge Analisa Torres.


The SEC and Ripple case has reached a frustrating impasse as both sides struggle to hold their ground. Only recently, Ripple Legal filed a motion to thwart the SEC in which they targeted the SEC’s unlawful methods. The SEC has unlawfully used the Howey Test as the token represented a “security per se”.
This theory has been issued from the onset by the SEC. Ergo, the SEC has itself is to blame because of its ‘unprecedented allegations.’

End to end

Famed attorney James K. Filan reported a new development on the case in his latest tweet.
An unidentified entity has entered the frame and has filed a Motion to Seal excerpts from the Daubert Motions. This is an attempt by the party to seal confidential business information to protect the organization and its employees.

#XRPCommunity#SECGov v.

Ripple#XRP MoneyGram filed an unopposed Motion to Seal a few lines from a deposition transcript of an officer of MoneyGram containing nonpublic information related to MoneyGram’s business strategies and operations. pic.twitter.com/mZsRqCcM6Z

— James K. Filan 🇺🇸🇮🇪 107k (beware of imposters) (@FilanLaw) July 29, 2022

The party seeks to redact digital wallet information akin to “financial account numbers”. This is echoed previously in a redaction proposed by Ripple.
The same party filed a sealed letter for Judge Torres identifying the exhibits which subject to its sealing requests. Case onlookers will be quick on the matter to seek out the party for a clear inspection. Crowd chatter was instigated as soon as the tweet was released.

What next?

In the coming four days, we will get a ruling on the parties’ motions to seal the expert challenges.

Court ripple sec william-

Kimbrough, Terry Nikopoulos. TKJ Investments Corp., TKJ Holdings Corp., Preeminent Trade Group Inc., The Elyte Group Corp., and Prosperity Consultants, LLCSee also:SEC ComplaintLR-25435Jul. 1, 2022Eric S. HollifieldSee also:SEC ComplaintLR-25434Jul. 1, 2022Matthew Wade Beasley, et al.See also:SEC ComplaintLR-25433Jul. 1, 2022William Glen Baker, Michael Bowen, Cannon Operating Company LLC, North Texas Minerals LLC, and Chol Kim (a/k/a Brandon Kim)See also:SEC ComplaintSecond QuarterLR-25432Jun. 29, 2022Shlomo Nir and Tzachi RahamimSee also:SEC ComplaintSee also:En EspañolLR-25431Jun. 29, 2022Daniel J. MoscatielloSee also:SEC ComplaintLR-25430Jun.


27, 2022Moynes, et al.See also:SEC ComplaintLR-25429Jun. 24, 2022StraightPath Venture Partners LLC, StraightPath Management LLC, Brian K. Martinsen, Michael A. Castillero, Francine A.

Court ripple sec williams


No further details have been furbished. Magistrate Judge Netburn has yet to decide whether she will allow remote public access for in-court civil proceedings.

Winklevoss twins believe XRP price is in for a bloodbath

As the prices of altcoins XRP, Ethereum, Solana, BNB, Cardano and Dogecoin plummet, the Winklevoss twins, founders of the Gemini exchange, have issued a stark warning of a “crypto winter” approaching. Cameron and Tyler Winklevoss believe the market has entered a “contraction phase.”

In a memo to Gemini exchange staff, the Winklevoss twins spoke of, “turbulent market conditions that are likely to persist for some time.”

Grizzly, a pseudonymous cryptocurrency analyst, believes Ripple price has entered a correction section that has lasted for over 400 days.

Court ripple sec williamsii

SEC’s sealing request

SEC had requested the court order sealing the agency’s letter in opposition to the motion by six XRP investors to file a brief regarding the opinion of one of the SEC’s experts.

The latest ruling comes after presiding judge Sarah Netburn held an SEC-Ripple conference regarding SEC’s claims that then-director William Hinman’s speech-related documents fall under the attorney-client privilege.

However, court documents indicate that the deliberate process privilege does not shield speech.

The SEC has relentlessly attempted to shield the Hinman documents from the Ripple defence.

Orders requiring the SEC to turn over internal documents related to a 2018 speech on digital assets aren’t just wrong on the law, they are likely to have a chilling affect on policy deliberations throughout the federal government, the agency says.

The Securities and Exchange Commission is fighting to keep Ripple Labs Inc. from getting documents related to the speech by William Hinman, then the Director of the Division of Corporate Finance.

Magistrate Judge Sarah Netburn rejected the agency’s objections based on relevance and the deliberative process privilege in a series of discovery orders this spring.

ActionSee also:SEC ComplaintLR-25369Apr. 15, 2022Damon Elliott, et al.LR-25368Apr. 15, 2022Carl Iberger and Timothy IbergerSee also:SEC ComplaintLR-25367Apr. 15, 2022Dean Shah et al.See also:SEC ComplaintLR-25366Apr. 14, 2022Ronald Bauer et al.See also:SEC ComplaintLR-25365Apr. 14, 2022Benja Inc. and Andrew ChapinSee also:JudgmentLR-25364Apr. 14, 2022Mark Loman Other Release No.: AAER-4293See also:OrderLR-25363Apr. 14, 2022Joseph Salvatore DeVito (a/k/a Salvatore DeVito) and Dean Anthony Esposito (a/k/a Dean Anthony)See also:SEC ComplaintLR-25362Apr. 13, 2022Kay X. YangSee also:SEC ComplaintLR-25361Apr. 12, 2022Justin Wallace Herman, Anthony Michael Baker, Ian Horn, and Island Capital IncSee also:SEC ComplaintLR-25360Apr. 11, 2022Global Investment Strategy UK Ltd.
SEC sued Ripple Labs, and its executives Brad Garlinghouse and Christian Larsen.

The issue centred on allegations that the company raised more than $1.3bn “through an unregistered, ongoing digital asset securities offering.”

This time US District Court Judge Analisa Torres ruled that the SEC had plausibly argued that the XRP digital coin amounted to the unregistered sale of securities.

XRP to US dollar

Celsius Network

Celsius has a $1.2b hole in its balance sheet, according to a recent court filing from the crypto lender’s advisory partner Kirkland & Ellis.

The crypto lender filed for voluntary bankruptcy in the US citing ‘extreme’ market conditions, leaving its 1.7 million customers unable to redeem their assets.

As a result the network’s native token CEL saw a series of wild price gyrations as investors confidence ebbed and waned.

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