XRP Lawsuit: Ripple CEO Brad Garlinghouse Hires New Defense Attorney
In a surprising turn of events, Brad Garlinghouse, the CEO of Ripple Labs, has hired a new defense attorney for the ongoing XRP lawsuit. Rahul Mukhi from the law firm Cleary Gottlieb Steen & Hamilton LLP will now be representing Garlinghouse specifically. This decision has caused ripples in the crypto community, as it raises questions about the implications of this unique representation.
Shift in Attorney Representations
The XRP lawsuit has seen various changes in attorney representations for both the United States Securities and Exchange Commission (SEC) and Ripple Labs. In August, two lawyers representing the SEC left their positions, creating a representation gap that may soon be filled. Ripple Labs has reassured everyone that these departures will not affect their argument regarding the status of XRP.
Rahul Mukhi is a highly regarded lawyer known for his work in complex litigation, enforcement, and investigations. His presence on Garlinghouse’s defense team may strengthen his case against the market regulator’s unnecessary lawsuit.
Potential Outcome of the Lawsuit
Many people in the digital currency ecosystem anticipate that Judge Analisa Torres will dismiss the SEC’s case against Brad Garlinghouse and Chris Larsen. Judge Torres has already ruled that trading XRP on secondary marketplaces does not constitute securities. Regardless of how the case unfolds, it is expected that Garlinghouse and Larsen will either emerge unscathed or face minimal civil penalties for the institutional sales aspect of their operations.
Hot Take: Ripple CEO’s New Defense Attorney Raises Questions
The appointment of Rahul Mukhi as Brad Garlinghouse’s defense attorney in the XRP lawsuit has sparked curiosity within the crypto community. With the ongoing legal battle between Ripple Labs and the SEC, this unexpected move has left many wondering about the potential impact on the case’s outcome. As the trial progresses, all eyes will be on Mukhi’s defense strategies and how they may shape the final verdict. The crypto world eagerly awaits further developments in this high-profile lawsuit.
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