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Filan Law Speculation - I don’t think that anyone should expect a settlement anytime soon + John E Deaton's take.


HAL1000
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Everything in this post, is sourced from Filan Law's Twitter feed, well except for the unhappy face at the end.

"Everything I say here is speculation, but based on my experience, I have a different take on what is happening in this case. I don’t think that anyone should expect a settlement anytime soon. The government is not giving up and based on everything I’ve read, Ripple will not give in. I do think that the Hinman deposition went forward. I don’t think Ripple would forfeit that opportunity. Ripple said Hinman has “unique first-hand knowledge about the SEC’s communications with third parties and about the agency’s adoption or approval of his well-publicized speech in 2018 about the regulatory treatment of cryptocurrencies.” If they can find out specifically who he spoke with and what information Mr. Hinman can himself provide” – Ripple can learn information about what the SEC said to market participants that is crucial to Howey, the aiding and abetting charge and the fair notice defense. My take is that Ripple got names of whom Hinman and others talked to and what was said and now Ripple is out there interviewing those people.

I also understand that people are mad about the SEC’s actions and inactions after all this time, but in my opinion this case really isn’t about punishing the SEC or anyone else. When a party focuses on hurting the other side, they lose focus on winning for themselves. This case is about winning and making the whole crypto space succeed. If the SEC or anyone else gets hurt in the process, they brought it on themselves. But that’s not the goal. The goal is to clean this mess up and move forward. So I don't think a settlement is coming anytime soon. This is a war. I think we should settle in for the long haul."  :(

Edited by HAL1000
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  • HAL1000 changed the title to Filan Law Speculation - I don’t think that anyone should expect a settlement anytime soon + John E Deaton take.
Posted (edited)

John E Deaton's take (similar to Hogans).

So I have like 200 DMs asking me about a video that some attorney did suggesting that a potential settlement could be afoot between

@SECGov

and

@Ripple

I mean, who does @attorneyjeremy1 think he is? With his Ryan Reynolds’ good looks, great hair, perfectly groomed facial hair, lovable geeky sense of humor and superior legal acumen? What the hell does that guy know? Actually, a lot. I watched Jeremy Hogan’s recent video and definitely agree that a few things don’t add up considering how contentious the last hearing was.

In fact, after the parties informed the Court that they had reached an agreement regarding the Hinman deposition going forward, I tweeted out a prediction that Judge Netburn would ultimately have to rule on the privilege issue related to both the #BItcoin and #Ether discovery and don’t forget that the #Ripple attorney informed the Judge that despite her two orders, the #SEC had not produced “one single document.” Ripple’s attorney stated that the #SEC was taking the position that every single document was protected by privilege.

Furthermore, the #SEC attorney stated she would instruct Hinman not to answer any questions regarding his speech and communications with other #SEC staff. The #SEC attorney argued on the record that any such documents or communications were part of the “deliberative process.”

But Hinman’s speech was allegedly his personal opinion - never adopted as official #SEC policy or guidance. If it’s his personal opinion, then how could it be part of the deliberative process of the #SEC? The #SEC didn’t deliberate or decide anything if it’s a personal opinion Hence, I predicted Judge Netburn would have to decide what’s protected by privilege and what’s not protected. Like Jeremy, it is difficult for me to believe every single document and communication is privileged. Usually, the Judge would review the documents herself and decide.

Bottom line: If we don’t see #Ripple file a motion to compel and/or request a ruling on the issue of privilege very soon, then I doubt Hinman’s deposition went forward and agree with what my friend Jeremy was trying to say (whatever he was being about in that video).

Edited by HAL1000
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Posted (edited)

Please like and subscribe to, WE ALL HAVE NOTHING BETTER TO DO WITH OUR LIVES NEWS SERVICE, THAT IS the SEC v RIPPLE case of the century... Film coming soon, with apparently Ryan Reynolds’ playing Jeremy Hogan (dressed as Deadpool)... stay tuned for the next episode, it's going to be a shoot out at the SEC coral and a real cliffhanger, that's a chart analyst joke, if you didn't get it LOL.

Hey MOD's, do I get paid for this news service job :)

Edited by HAL1000
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  • HAL1000 changed the title to Filan Law Speculation - I don’t think that anyone should expect a settlement anytime soon + John E Deaton's take.

I think we need to also remember this is costing the government millions to fight as well. This isn’t just Ripples money being spent. Part of me wonders if the suit was originally raised as a bullying tactic to get on top of Ripple and hope to end it quickly with a large payout and then go after all the little fish in the crypto space, in effect writing a blank cheque for the government agency. It went wrong, Ripple fought back and has the war chest to fight to the end. This is costing a fortune to both sides and Ripple won’t back down. This means those at the government, writing the pay checks for the legal team will at some point soon say enough is enough, it’s not worth continuing, get out with what you can. 
Hence a settlement will come sooner than you think, with a spin on it that try’s to keep face for the SEC. Ripple don’t care,’they want clarity for XRP and Ripple so they can take the market by storm once this is over. With clarity comes opportunity, and once that happens, things will move so fast. 

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7 hours ago, HAL1000 said:

Everything I say here is speculation, but based on my experience, I have a different take on what is happening in this case. I don’t think that anyone should expect a settlement anytime soon. The government is not giving up and based on everything I’ve read, Ripple will not give in. I do think that the Hinman deposition went forward. I don’t think Ripple would forfeit that opportunity. Ripple said Hinman has “unique first-hand knowledge about the SEC’s communications with third parties and about the agency’s adoption or approval of his well-publicized speech in 2018 about the regulatory treatment of cryptocurrencies.” If they can find out specifically who he spoke with and what information Mr. Hinman can himself provide” – Ripple can learn information about what the SEC said to market participants that is crucial to Howey, the aiding and abetting charge and the fair notice defense. My take is that Ripple got names of whom Hinman and others talked to and what was said and now Ripple is out there interviewing those people.

I also understand that people are mad about the SEC’s actions and inactions after all this time, but in my opinion this case really isn’t about punishing the SEC or anyone else. When a party focuses on hurting the other side, they lose focus on winning for themselves. This case is about winning and making the whole crypto space succeed. If the SEC or anyone else gets hurt in the process, they brought it on themselves. But that’s not the goal. The goal is to clean this mess up and move forward. So I don't think a settlement is coming anytime soon. This is a war. I think we should settle in for the long haul.  :(

Can I suggest you put your post in quotes.  At first I thought I was reading your opinions, but they are the opinions Filan.

About his opinion in red : I think he is wrong here.

Skilled negotiators sitting opposite each other. 

Job 1 find common ground

  • This is Clayton's mess, lets both agree this is Claytons mess we are sorting out
  • This space is full of scammers and need regulation
  • Ripple intentions for disrupting FX are inevitable and a good. America needs Ripple to stay in America

Job 2 draw red lines

  • Ripple want clarification for ODL (no they are not fighting for Uniswap and BTC)
  • SEC want to gain control over the space and to be able to prosecute scammers

Ripple want to turn this fight into an opportunity.  They want to catch up in Defi and NFT so they are very happy to be the first to comply with the regulations Gensler has in mind for how exchanges are run, and if it slows down uniswap and Binance, all the better for Ripple..  Ripple want to come out of this on first name terms with Gensler's team

I think Hogan is probably right

 

 

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Personally I think Hogan is spot on look at the timing of things, Gensler launching his twitter page, Warren asking for some finality on guidance in this space and flipping her ideology from being a digital asset opponent to recently falling short of saying it is needed to run with the ball where the banks have dropped it. Something Big is afoot here and as Hogan has alluded to the lack of response where a response is needed and expected indicates a pivot somewhere in the process.  One thing that I have also said in previous post is that SBI can determine the outcome of this case and it looks like they are playing their hand and I expect more to come from them !!!  Money talks and BS walks this applies on a global scale.  I'm not big on youtubbers but I have like 3 favorites and the Digital Asset Investor being one and I will use a phrase he often uses here  "All the World is a Stage!!!"  

Edited by RikkiTikki_is_Back
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I was on my way to bed when I posted, so sorry if people thought the first post was me speaking, yes it all came from Filan Law. I edited the post to make it more clear.

In response to the post above from RikkiTikki (what a name), I like Thinking Crypto's quote, "don't look at what THEY say, look at what THEY do".

There is an insane amount of stuff that is about to be tokenized and put onto blockchains. The big boys are getting into this space, will this all happen tomorrow, nope, but if your financial investment plans extend beyond a 2 to 3 year time period, then most of us here, may as well be investing in Apple or Google whilst they are still in the garage.

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All below was taken from Jeremy Hogan's Twitter feed:-

"FilanLaw makes some great points and, we are really all just speculating. But IF there's no settlement and Ripple didn't respond to the SEC brief, I think that's a mistake and that's NOT something I would expect from this legal team. In addition, we know that 90-95% of SEC cases settle at some level - but it is difficult to call - like picking the bottom of a falling stock, you know it's going to bottom out sometime, but when is the question.

John Deaton also thinks the last week or so has been strange in that there has been a dearth of motion practice on a key privilege (and some other) issues. This type of lull in activity is a characteristic of a settlement and if I don't see something soon that is my guess. BUT yes, it could be 10 other things as well. Thanks FilanLaw"

Hal

My take is that you don't go another 10 rounds by filing another motion that invites that kind of SEC response, especially if your close to settlement, either that or Filan is right (the war is on) and Ripple are taking the time to choose both their words, actions and next steps very carefully. Either way, we shouldn't have to wait much longer to know which way this wind is blowing.

 

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