Updates from the ongoing SEC case against Ripple have had a muted effect, with investors’ optimism towards the outcome of the case providing support.
Investor optimism moderated the effects of a bearish Nasdaq
On Tuesday, Louis Cohen Archived Request to appear Deputy Pro Hac on behalf of Paradigm Operations LP. In mid-December, Paradigm Operations LP attorney Rodrigo Seira filed a motion to appear as a supporting deputy before filing Thursday. Louis Cohen is a New York attorney with Cohen Wilson LLP.
Paradigm Operations LP is one of several entities that have filed amicus briefs in favor of Ripple and the defendants.
While investors continue to monitor updates from the SEC v. Ripple case, two court decisions remain in focus. Court rulings on Omnibus motions to close all articles on summary judgment proposals and summary judgment responses may determine the outcome.
For the SEC, protecting William Hinman’s documents related to her speech appears to be a priority. The SEC sought to protect Hinman’s speech-related documents in filing Omnibus motions to close all articles on summary judgments.
The request came after more than six attempts to protect William Hinman’s speech documents under attorney-client privilege. A court order against the SEC may force Gary Gensler to settle to avoid making the documents public.
As a matter of background, former SEC Director of Corporate Finance William Hinman said that Bitcoin (BTC) and Ethereum (ETH) are not securities. The controversial issue in the letter concerns Hinman’s relationship with Simpson Thacher, who is part of a group promoting Enterprise Ethereum. After leaving the SEC, Hinman returned to Simpson Thacher.