The highly controversial “Ethereum is not a security” speech made by former SEC official William Hinman in 2018 remains a bone of contention and deciding factor in the ongoing litigation between Ripple and the U.S. Securities and Exchange Commission (SEC).
The Hinman speech subject resurfaced and became a hot topic once again among XRP proponents following a recent ruling from Judge Analisa Torres where the presiding judge rejected SEC’s request to seal or redact Hinman Speech Documents from the public.
Following this decision where the presiding judge also ruled against the redaction or sealing of sensitive content in both parties’ summary judgment motions and other exhibits, June 6 was set aside by the court for the public release of unredacted Hinman Speech Documents and summary judgment articles.
But both parties — Ripple and SEC — filed a joint letter, requesting a one-week extension. Judge Analisa Torres granted this request, giving both parties until June 13, 2023, to file public, unredacted versions of cross-motions for summary judgment and accompanying exhibits, which include the 2018 Hinman Speech emails.
Accordingly, pro-XRP lawyer Attorney Jeremy Hogan has weighed on how this latest development may affect the timeline for the XRP lawsuit conclusion. Notably, several XRP devotees believe Judge Torres might make a summary judgment decision for the Ripple-SEC case before the parties file public, redacted versions of the documents.
On the other hand, the partner at Hogan & Hogan firm theorizes that the final verdict in the longstanding XRP lawsuit would only come after both the SEC and Ripple publish unredacted summary judgment documents and Hinman speech drafts.
According to Hogan, Judge Torres doesn’t have to wait until these documents are made publicly available to issue a final verdict in the XRP lawsuit. However, he said it is most likely she waits. This top U.S. lawyer made this claim in response to a query from an inquisitive XRP community member, Tim Frantz.
She doesn't HAVE to wait. But very very likely she will.
I'm not holding my breath until after June 13.
— Jeremy Hogan (@attorneyjeremy1) May 23, 2023
Although it remains uncertain when Judge Torres will issue a summary judgment, Ripple CEO Brad Garlinghouse expects the lawsuit to be wrapped around September month end.