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Regarding the Hinman emails and speech drafts: the SEC has requested for them to remain sealed, even after Judge Torres’ ruling on summary judgment. I believe the emails and speech drafts will be made public at some point, regardless of Judge Torres’ decision on whether to seal.
If Judge Torres cites to or relies on the emails/drafts in making her decision, I am 75% sure that she will declare them “judicial documents” and order that they be unsealed (but with limited redactions). But even if she doesn’t, the emails and drafts are going to be made public.
Why am I so confident? There will be more enforcement actions filed, including against @coinbase @kraken and @BinanceUS, IMO. I predicted the exchanges would be sued for selling securities last year. I still believe it’s coming. But even before that, other litigation is ongoing.
WILL THERE BE A SETTLEMENT IN @SECGov 🆚 @Ripple?
I’ve maintained for more than a year that settlement is 💯 dependent on whether the @SECGov must turn over the Hinman speech drafts, edits, emails and comments thereof.
I’ve maintained for more than a year that settlement is 💯 dependent on whether the @SECGov must turn over the Hinman speech drafts, edits, emails and comments thereof.
Other than having to produce the emails and drafts, another event that could facilitate a settlement is if the SEC receives a disfavorable decision in the @LBRYcom case.
I’ve become more convinced that there will be no settlement unless one or both of those things happen.
I’ve become more convinced that there will be no settlement unless one or both of those things happen.
First of all, my opinion regarding settlement is no better or more relevant than anyone else’s opinion. The fact that I’m amicus counsel places me in no better position to speculate than anyone else. I’m just sharing my observations b/c I’m receiving many emails and DMs asking.
@GaryGensler has the @Ripple #XRP case pending in the 2nd Circuit in SDNY, the @LBRYcom #LBC case in the 1st Circuit in N.H., and the @dragonchain #DRGN case in the 9th Circuit in Wa. He is now also suing individuals for selling 9 tokens as unregistered securities in Wahi case.
In the Ripple case the SEC has declared all #XRP, including #XRP traded in the secondary market independent of Ripple, securities. The token itself is a security per se.
In the LBRY case the SEC argued utility is irrelevant and even if 90% of the token holders acquired #LBC for non-investment use, if one person expected a profit all LBC are securities.
