XRP holder representative on Ripple’s major achievement and next steps in battle with SEC

John Deaton, founder of CryptoLaw and a representative of XRP holders, summarized the latest developments in the SEC lawsuit versus Ripple and explained why the market should be grateful to the company and what to expect next in this battle.

SEC v. Ripple: Next Steps in Case, In Lawyer’s Opinion, After Ripple’s Major Achievement

After Ripple’s victory in obtaining documents from former SEC official William Hinman regarding his Ethereum speeches, the commission can either ask to certify or file an appeal. In all other cases, the SEC will have to provide records of the speeches and other documents, which could be a breakthrough for Ripple.

According to Deaton, Ripple in court, at the moment, is not only protecting itself from wrongful prosecution, but it is also representing and protecting the entire crypto industry, spending a lot of money to support its future. Between $2 million and $3 million have been spent by Ripple so far to finally get access to the speeches of former SEC official William Hinman, and only now has that been achieved, the lawyer says. That said, the total amount Ripple will spend in the case is about $100 million, according to CEO Brad Garlinghouse.

Nevertheless, this is an important breakthrough, according to Deaton, who represents 74,000 XRP holders in court and the entire community. If the SEC wins the case and XRP is recognized as security, many crypto projects and their investors will meet the same fate.

Daniel Moncada, who, along with his brother Luis, played in the ultra-popular film series “Breaking Bad,” believes that Ripple fintech behemoth will win the lawsuit against the SEC regulator, and he told David Gokhshtein about that as he joined the discussion sparked by the crypto influencer on this issue.

Moncada also starred in “Better Call Saul,” a spinoff from “Breaking Bad,” and took part in a few other movie projects. Together with his brother, they played “The Cousins.” According to his Twitter profile page, the Honduras-born actor seems to be into crypto, NFTs, and Web3. However, the actor’s only tweet dedicated to crypto in September has been a retweet of Vitalik Buterin’s post about the Merge successfully taking place.

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