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Ripple CEO Gears Up To Battle SEC With Renowned Attorney

Ripple’s CEO, Brad Garlinghouse, has secured the services of a renowned attorney as the legal battle involving him and his crypto firm against the US Securities and Exchange Commission (SEC) continues to heat up. 

Who Is Garlinghouse’s New Attorney?

In a tweet shared on his X (formerly Twitter) platform, defense attorney James Filan revealed that Attorney Rahul Mukhi, a partner at Cleary Gottlieb, had filed a notice of appearance (dated September 25) on behalf of the Ripple CEO. 

The attorney boasts an impressive resume, including working as an Assistant US Attorney (AUSA) in the US Attorney’s Office for the Southern District of New York (SDNY). During his time there, he worked as a lead prosecutor on cases that cut across public corruption, cybercrime, money laundering, and financial and tax fraud. In recognition of his incredible work, he received the Attorney General’s Award for Distinguished Service. 

He went into private practice in 2016 and has used the experience gained from his time at the Attorney’s office to represent numerous clients in cases involving government and regulatory investigations. As such, it is unsurprising and would seem like a well-calculated move that Garlinghouse has secured Mukhi’s services. 

Meanwhile, many have wondered why Ripple’s CEO hired an attorney specifically for him. While the exact reason might not be known, it is not unusual for co-defendants in a case to have different attorneys representing their interests.

Ripple’s legal team has also been changed in recent times, as Lisa Zornberg had to withdraw from the team following her departure from Debevoise and Plimpton LLP. Nevertheless, several attorneys from the firm currently represent the crypto firm. 

Will SEC’s Case Against Ripple’s Founders Go To Trial?

Ripple’s CEO Brad Garlinghouse and Executive Chairman Chris Larsen are named as co-defendants in the Commission’s case against Ripple. However, even though the case seems to be forging ahead, many speculate that the case will likely not go to trial, especially with Ripple’s founders involved as co-defendants.

Pro-XRP legal expert Fred Rispoli is one of those who believe so. He mentioned the SEC only did this to pressure Ripple into a “weak settlement position” and doesn’t intend to maintain the suit against them.

Notably, he stated that the SEC would likely lose its credibility if the case were to go to trial, especially if former SEC Chair Jay Clayton and former SEC Director William Hinman were called to the witness stand. 

Hinman is a name that continued to surface in everything related to the Ripple case. Recently, pro-XRP lawyer John Deaton stated that Hinman’s cross-examination would be of “epic proportions” if the SEC’s case against Ripple’s founders were to go to trial. 

 

XRP price reclaims $0.5 | Source: XRPUSD on Tradingview.com

Featured image from Fox Business, chart from Tradingview.com


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