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Memorandum of Law in Opposition to @Ripple 's Response to Motion to Intervene by #XRPHolders.


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15 minutes ago, Pablo said:

I always said that the lawsuit would take months to resolve. Gensler has been settled in for a while now at the SEC and his first response to the litigation? Bringing in reinforcements for the hapless Jorge Tenreiro with not 1 but 2 big guns. The SEC is not playing nice either and have approached regulators in other countries to obtain evidence about Ripple. They are pulling out all the stops to win this case. Why bother with all that horsepower just to settle? Because the SEC is not ready to settle.

Keep in mind that where there is a realistic chance of settlement, this would be shared with the court and we would have known about it by now. All I've seen to date is endless interrogatories and procedural skirmishes.

To all intents and purposes, it looks like a normal litigation process with the parties moving towards a natural conclusion. We are still in the softening up period where both sides get to see the strength of the other side's case during discovery. Only then will each side know how much leverage they have. Having John Deaton in the mix complicates matters and slows the whole process down (which we can already see happening).

There were people claiming that this matter would have settled by February. :blink:

As for the relative strength of each sides' case, I haven't seen anything that changes my view on the outcome: XRP will likely be fine, Ripple and the execs take a few knocks, maybe pay some fines and disgorgement to the SEC and we all move on. To get to that point, we still have many bridges to cross.

Thanks for your insight. Always appreciated. 

Good to know my funds are likely to be locked out of American exchanges for the foreseeable future then, and that any potential price appreciation of my assets will be anchored down by this case for many more months to come. 

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6 hours ago, HAL1000 said:

For all those who hate to read :)

 

 

Wow John Deatons reply to the SEC's opposition to the motion to intervene is brilliant IMO

If you dont like to read the whole 18 or so pages the video above is a good summary

 

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@Julian_Williams In reference to my comment about them not looking ready to settle, perhaps I should have defined 'they' ... We have to make a difference between "the SEC" and each of the cast and characters in this play. Each have their own motivations and goals. 

The SEC won't get in trouble for any of this ... nor would Gensler ... but Tenreiro and his team? That's another story.

His whole career is likely on the line for this, and not just at the SEC. His incompetent, often circular arguing has a HUGE limelight on it from coast to coast. Tenreiro's likely doesn't care to settle unless it's on the SECs terms. Which is unlikely. He's desperate to win and keep his job ... His only prayer is trench warfare, pitting the unlimited resources of Uncle Sam up against those of Ripple/XRP Holders. 

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7 minutes ago, RobertHarpool said:

@Julian_Williams In reference to my comment about them not looking ready to settle, perhaps I should have defined 'they' ... We have to make a difference between "the SEC" and each of the cast and characters in this play. Each have their own motivations and goals. 

The SEC won't get in trouble for any of this ... nor would Gensler ... but Tenreiro and his team? That's another story.

His whole career is likely on the line for this, and not just at the SEC. His incompetent, often circular arguing has a HUGE limelight on it from coast to coast. Tenreiro's likely doesn't care to settle unless it's on the SECs terms. Which is unlikely. He's desperate to win and keep his job ... His only prayer is trench warfare, pitting the unlimited resources of Uncle Sam up against those of Ripple/XRP Holders. 

Ripple has deep pockets, and are willing sink wealth into defending their core assets. 
They went after the wrong homeys. 
 

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