1. BITBILIHome
  2. Article

Lawyer abruptly quits Ripple battle – What does it mean for XRP holders?

• 118 views

TL;DR Breakdown

  • Attorney and legal representative of XRP holders, John Deaton, took to Twitter to share his initial excitement followed by a disappointing revelation.
  • According to Deaton, the withdrawal in itself does not alter the trajectory of the Ripple litigation.
  • Another legal expert, Marc Fagel, who is a former attorney and former SEC director in San Francisco, shared a related perspective on the situation.

Description

In a recent update on the SEC v. Ripple case, attorney and legal representative of XRP holders, John Deaton, took to Twitter to share his initial excitement followed by a disappointing revelation. Deaton had received an email filing related to the case, which initially caused a flutter of anticipation. However, his hopes were swiftly dashed … Read more

In a recent update on the SEC v. Ripple case, attorney and legal representative of XRP holders, John Deaton, took to Twitter to share his initial excitement followed by a disappointing revelation. Deaton had received an email filing related to the case, which initially caused a flutter of anticipation. However, his hopes were swiftly dashed as he discovered that the email simply announced one lawyer’s withdrawal from the case.

Deaton promptly clarified the implications of this withdrawal, stating that it held no substantial significance for the ongoing legal battle between Ripple and the SEC. He emphasized that the lawyer’s departure should not be misconstrued as a signal that the case is settled or that any substantive changes have occurred. According to Deaton, the withdrawal in itself does not alter the trajectory of the litigation. He sought to address any potential concerns or misinterpretations that could arise from this development.

Another legal expert, Marc Fagel, who is a former attorney and former SEC director in San Francisco, shared a related perspective on the situation. Fagel expressed solidarity with Deaton, revealing that he, too, experienced a similar mix of excitement followed by a letdown upon hearing the news about the lawyer’s withdrawal.

Ripple vs SEC

When asked about the turnover within the SEC during Chairman Gary Gensler’s tenure, Fagel offered some more controversial insights. Drawing from his experience and observations, Fagel stated anecdotally that the turnover rate within the SEC has increased. He speculated on potential reasons for this uptick, mentioning staff dissatisfaction with Gensler’s leadership or the presence of a robust job market for defense counsel due to the SEC’s more aggressive stance.

The recent update in the SEC v. Ripple case, involving the withdrawal of a lawyer, has caused initial excitement followed by disappointment for attorney John Deaton and legal expert Marc Fagel. However, both Deaton and Fagel were quick to clarify that the lawyer’s departure does not hold significant implications for the ongoing litigation between Ripple and the SEC.

It is important not to misinterpret this development as a sign of settlement or substantive changes in the case. Additionally, Fagel shared anecdotal insights about a potential increase in turnover within the SEC during Chairman Gary Gensler’s tenure, speculating on possible reasons behind it

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Lawyer abruptly quits Ripple battle – What does it mean for XRP holders?

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年6月29日 15:17
Next 2023年6月29日 16:10

Related articles

  • Nigeria’s president forms committee to reform tax laws and boost revenue generation

    TL;DR Breakdown President Bola Tinubu of Nigeria is reforming tax laws to boost revenue and reduce borrowings. The goal is to increase the tax-to-GDP ratio from 10.9% in 2021 to 18% in three years. These reforms are part of Tinubu’s wider plan to improve the economy, which includes overhauling the power industry and easing foreign-exchange controls. Description Nigeria’s President, Bola Tinubu, is spearheading an ambitious fiscal initiative to revamp the country’s tax regulations and improve revenue efficiency. The leader’s decisive action signifies a concerted effort to wean Africa’s largest crude oil producer off its borrowing dependency while boosting infrastructure, healthcare, and education investments. To enhance revenue transparency and utilization, Tinubu has rallied … Read more Nigeria’s President, Bola Tinubu, is spearheading an ambitious fiscal initiative to revamp the country’s tax regulations and improve revenue efficiency. The leader’s decisive action signifies a concerted effort to wean Africa’s largest crude oil producer off its borrowing dependency while boosting infrastructure, healthcare, and education investments. To enhance revenue transparency and utilization, Tinubu has rallied a top-tier committee led by Taiwo Oyedele, Africa tax leader…

    Article 2023年7月10日

  • Binance announces removal of trading pairs and margin delisting

    TL;DR Breakdown Binance announces the removal of multiple spot trading pairs and isolated margin pairs from its platform. Spot trading pairs, including BIFI/BUSD, DASH/BNB, and LIT/ETH will be delisted, but users can still trade these assets on other available pairs. Isolated margin pairs like BNT/BUSD and CVX/BTC will also be delisted, and users are advised to close positions and transfer assets before the cessation of margin trading to avoid potential losses. Binance, one of the world’s leading cryptocurrency exchanges, has announced the removal of several spot trading pairs. The affected trading pairs, including BIFI/BUSD, DASH/BNB, FIO/BUSD, DASH/BNB, FIO/BUSD, GAL/BNB, ILV/BNB, KLAY/BNB, LIT/ETH, MC/BNB, MINA/BNB, MLN/BUSD, ONE/ETH, OXT/BUSD, PEOPLE/BNB, PEOPLE/ETH, QNT/BNB, WAXP/BNB, XTZ/ETH, ZEC/BNB, and ZRX/ETH will cease trading on June 14 at specific times. Users are advised that they can still trade these assets on other available trading pairs on Binance. Delisting on Binance margin In addition to the removal of spot trading pairs, Binance Margin will delist the BNT/BUSD, CVX/BTC, POLS/BUSD, POWR/BUSD, STPT/BUSD, and STRAX/BUSD isolated margin pairs. The delisting process will commence on June 19 at 06:00 UTC….

    Article 2023年6月15日

  • Core Scientific’s chapter 11 plan paving the way for Bitcoin mining titan’s resurgence

    TL;DR Breakdown The Chapter 11 plan was submitted to the Houston Division of the Southern District of Texas Bankruptcy Court. With this strategy, Core Scientific has communicated its vision for the future of the business and its goal to reach a mutual understanding with all significant stakeholders. According to the bankruptcy plan, creditors who have valid claims against the debtor-in-possession will be paid in full. The Chapter 11 bankruptcy plan, at its core, provides a roadmap for how the business intends to restructure and pay off its debts. Description Core Scientific, a Bitcoin mining company facing serious difficulties due to the current bankruptcy procedures, has taken a decisive step to ensure its long-term viability. The company has recently filed for Chapter 11 bankruptcy protection in order to demonstrate its commitment to reorganizing its business and pleasing its creditors. The Chapter 11 plan was submitted … Read more Core Scientific, a Bitcoin mining company facing serious difficulties due to the current bankruptcy procedures, has taken a decisive step to ensure its long-term viability. The company has recently filed for Chapter 11…

    Article 2023年6月24日

  • Tornado Cash suffers governance hijack

    TL;DR Breakdown Tornado Cash encountered a slight setback after its governance was hijacked by an attack. The platform is seeking measures to salvage the situation. In a concerning development, Tornado Cash, a decentralized crypto mixer, has encountered a significant setback as an attacker managed to seize full control of the platform’s governance through a malicious proposal. The incident unfolded on May 20 at 3:25 ET when the attacker granted themselves 1.2 million votes, effectively taking over Tornado Cash’s governance system. This exploit occurred despite the proposal receiving over 700,000 legitimate votes, allowing the attacker to manipulate the platform at will. The attacker designed a malicious program to attack Tornado Cash The details of the attack were shared by @samczsun, a member of Paradigm, a research-driven technology investment firm. According to @samczsun, the attacker cunningly designed the malicious proposal to resemble a previously successful one, exploiting the trust and familiarity of the community. However, this time, the proposal included an additional function. Once the proposal gained sufficient votes, the attacker swiftly executed the emergency stop function, modifying the proposal logic to…

    Article 2023年5月22日

  • Brazil’s new legislation sets the stage for cryptocurrency success under president Lula

    TL;DR Breakdown President Lula drives regulatory clarity for cryptocurrencies in Brazil, acknowledging their growing significance. The new legislation grants unprecedented authority to Brazil’s Central Bank, ensuring supervision and regulation of the digital currency sector. President Lula’s transformative decree supports the regulatory powerhouse, CVM, overseeing cryptocurrency securities. In recent developments, Luiz Inácio Lula da Silva, the current president of Brazil, has emerged as a prominent figure in cryptocurrency. His recent actions have captured the public’s attention, as he has taken significant steps toward bringing clarity to the regulatory landscape surrounding digital assets in the country. One of his noteworthy achievements is the signing of a new legislative order, which aims to define the respective roles of Brazil’s central bank and securities regulator with cryptocurrencies. With this new order, President Lula is acknowledging the growing significance of cryptocurrencies and their impact on the financial landscape. By defining the responsibilities of the central bank and securities regulator, the government seeks to provide a clear roadmap for the development and regulation of digital currencies and related technologies. This bill grants the Central Bank unprecedented…

    Article 2023年6月18日
TOP