XRP Lawsuit: The Secret Memo
More details are emerging in the ongoing XRP Lawsuit between Ripple Labs Inc. and the SEC. XRP holder’s lawyer, John Deaton, has revealed a secret memo that could have a significant impact on the case.
Key Points:
- The secret memo revolves around questions from Ripple Labs CEO Brad Garlinghouse and CTO David Schwartz to William Hinman and Jay Clayton in 2018.
- Galinghouse and Schwartz questioned why XRP was omitted from Hinman’s speech that declared Bitcoin and Ethereum as non-securities.
- The notes from the SEC appointed Counsel to Hinman provide credibility to Deaton’s claims.
- The SEC’s omission of XRP as a non-security is believed to be due to the commission’s perception that XRP has no intrinsic value.
- The controversy stems from different interpretations of the Howey Test.
Hot Take:
Despite the twists and turns in the lawsuit, the prediction of victory for Ripple Labs and XRP remains high. The emergence of the secret memo could be a game-changer in shaping the outcome of the case.
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