When @EleanorTerrett and I were discussing the @SECGov summary judgment, I didn’t bring up the one thing that stood out the most, b/c I had only read it once, right after reading @Ripple’s brief. I didn’t want to misspeak or be wrong. I’ve now read the @SECGov’s brief a 2nd time.
https://twitter.com/EleanorTerrett/status/1571642921287557120
What, without a doubt, is the most glaring thing missing from the SEC’s motion for summary judgment?
THE SEC DOES NOT RELY ON A SINGLE EXPERT!
There is NO SEC expert testimony attempting to prove price correlation between the efforts of Ripple and the price of #XRP.
THE SEC DOES NOT RELY ON A SINGLE EXPERT!
There is NO SEC expert testimony attempting to prove price correlation between the efforts of Ripple and the price of #XRP.
There is NO SEC expert testimony claiming #XRPHolders relied on the expertise, skill or management of the Ripple team OR expert testimony claiming #XRPHolders were led by promises and inducements made by Ripple, before acquiring #XRP.
There is NO SEC expert testimony claiming that the #XRPLedger Network is centralized and/or controlled or managed by Ripple.
We could get a decision from Judge Torres any day on the Daubert Motions, challenging the SEC’s and Ripple’s experts.
We could get a decision from Judge Torres any day on the Daubert Motions, challenging the SEC’s and Ripple’s experts.
Considering that the SEC decided to NOT rely on its experts is a sign that Ripple probably has some strong Daubert challenges and the SEC couldn’t risk relying on it. We know Expert 1 didn’t interview a single #XRPHolder and his/her testimony was simply not credible.
In her Order regarding my motion to participate in the Daubert Challenge of Expert 1, Judge Torres ruled that I could request to be heard after reading the expert’s testimony and Ripple’s motion. That issue is now moot so I won’t be seeking permission to be heard on that expert.
This case is down to a promotion and marketing case. The SEC can prove Ripple promoted Ripple. The SEC can prove Ripple promoted and sold #XRP. It seems to me the only specific sales the SEC can prove are to accredited investors which, by definition, are not securities.
According to Ellie, @s_alderoty was confident when they spoke. I can see why. It’s definitely symbolic and fitting that @CFTCpham was w/ @bgarlinghouse today at Ripple’s office. @CFTC Commissioners should learn about one of the commodities under its jurisdiction.
#xrpwins
#xrpwins
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