Ripple CEO predicts imminent end to SEC Case: Legal expert weighs in

Ripple CEO Brad Garlinghouse said in a recent interview with Mukaya Panich, the CEO of SCB 10X, that he expects Ripple’s prolonged legal battle against the US Securities and Exchange Commission (SEC) to be over in weeks. 

Indeed, Garlinghouse stated in the interview expects the court case resolution “in weeks, not months,” following the recent court news regarding the Hinman emails would be made public.

Notably, John E. Deaton, Managing Partner of the Deaton law firm, shared his take on Garlinghouse’s predictions on May 25 on Twitter. 

The pro-Ripple lawyer told Garlinghouse: “good luck with that prediction,” followed by a laughing emoji. Deaton also tagged other prominent lawyers in the tweet, including Jeremy Hogan and James K. Filan.

One Twitter user asked Deaton why he was being skeptical about the case potentially coming to an end in a few weeks, to which the legal expert replied:

“You’re reading the tweet wrong (or I worded it poorly). I didn’t imply that I was skeptical – clearly, I agree with him. I’m making fun that some of us have been off in our predictions, so I’m saying good luck with his.”

Last month, Deaton said that he’d be surprised if the case gets resolved later than May 6. 

Ripple CEO believes lawsuit could be over in weeks

As mentioned, Garlinghouse’s comments on a potential resolution timeline come after a recent decision of Judge Analisa Torres to block the SEC’s motion to seal the controversial ‘Hinman documents.’ 

More specifically, the documents refer to the securities regulator’s internal communications involving a speech of former Division Director William Hinman in 2018, when he said that Bitcoin (BTC) and Ethereum (ETH) were not securities. 

The copy of the judgment was shared on Twitter by the former defense attorney James K. Filan, who was tagged in Deaton’s tweet today. 

Garlinghouse believes that the judge’s decision to deny the SEC’s attempts to seal the documents indicates the broader court’s sentiment toward the lawsuit.

The documents are expected to be revealed to the public on June 13 –  per the Court Order from September 9, 2022, which stated that both parties had exactly 21 days after the sealing ruling to file public, updated versions of the related summary judgment papers.