Judge Torres Brings Forward SEC v Ripple Calendar to November
Previously, both parties made an extension request for,
“Oppositions to any motions for summary judgment, response to Rule 56.1 Statements, and responses to motions to exclude testimony must be filed by November 2, 2022.”
Additionally, both parties previously requested,
“Replies to any opposition must be filed by December 20, 2022.”
The move by Judge Torres to bring forward the proposed end data by more than a month may be in favor of Ripple Lab.
It remains to be seen whether the SEC is willing to test Judge Torres with another extension request.
The news follows a recent Bloomberg interview with Ripple CEO Brad Garlinghouse.
Bloomberg Crypto Full Show Interviews Ripple CEO Brad Garlinghouse
On Wednesday, Bloomberg Crypto Full Show interviewed Ripple CEO (time stamp 00:11:10), Brad Garlinghouse. While XRP showed little reaction to the interview, there were some interesting comments for the crypto market to consider.
Salient points from the interview included,
The outcome will impact the whole crypto industry. SEC is dragging its feet, with the US the only country that thinks Ripple is a security. Ripple is operating as though it has already lost the case. For US XRP, there is no liquidity, with XRP frozen and halted on most US-based exchanges. Despite that fact, Ripple had a record year in 2021 and a record Q1, 2022. Ripple continues to see growth across its product groups. Almost all growth comes from outside of the US, with Ripple hiring more and more people outside of the US. Customer base is now 95% non-US payment companies. Demand for XRP cross-border transactions grew 8X in Q1 2022, year-on-year. While demand has skyrocketed, it is just frustrating that, in the US, where we have led innovation in so many different industries, we have an agency that is overreaching and straining competitiveness. XRP Price Action
At the time of writing, XRP was down 0.34% to $0.6406. A mixed start to the day saw XRP rise to an early morning high of $0.6466 before falling to a low of $0.6334.
