Ripple CEO, Bradley Garlinghouse, seems to be shoring up his defense team after the United States Securities and Exchange Commission (SEC) recently filed an “interlocutory appeal“ following Judge Analisa Torres’ ruling in favor of Ripple (XRP).
On August 23, Ripple enthusiast and former United States federal prosecutor attorney James K. Filan took to X to announce that two prominent lawyers from the recognized law firm Cleary Gottlieb Steen & Hamilton LLP have decided to represent Garlinghouse in the matter pending before the US District Court for the Southern District of New York.
New Legal Advocates Join Ripple Team
According to the announcement, Attorney Michael A. Schulman formally requested permission to represent Garlinghouse, filing a motion for “Pro Hac Vice.” It is a legal term for adding an attorney to a case in a jurisdiction in which they are not licensed to practice in such a way that the attorney does not commit unauthorized practice of law.
Meanwhile, Attorney Caleb J. Robertson has officially entered an appearance as counsel for Garlinghouse in the same court action, making a formal request to the court to furnish all relevant legal documents and communications pertaining to the lawsuit.
Following the news, the crypto community was abuzz with optimistic murmurs. It seems the XRP enthusiasts are already betting big on another win against the SEC. One user even compared the three pro-Ripple attorneys – Matt Solomon, Stuart Alderoty, and now Caleb Robertson to Marvel superheroes, adding
“That’s three tattoos I need now for my heroes, we should give them a Marvel-style team name like The Vindicators!”
XRP Vs SEC Legal Feud Drags On
This strategic move indicates that Ripple (XRP) is in no mood to horse around after the SEC recently, filed a motion for the court to certify an interlocutory appeal of two Ripple rulings regarding XRP after the regulator expressed dissatisfaction with the recent Ripple victory.
In response, on August 17, Ripple filed an opposition to the interlocutory appeal, contesting the expected appeal deviates from its previous focus. Additionally, the blockchain firm suggested that the exceptional circumstances necessary for the interlocutory appeal do not exist and put forward several arguments in opposition to the American watchdog’s request.
It seems, the SEC’s urge to appeal against the recent pro-XRP ruling gathered steam after United States District Judge Jed Rakoff, who is overseeing the SEC’s case against Terraform Labs, expressed on X, contrasting views regarding the approach used in the Ripple vs SEC case.
He strongly criticized the distinction made in the Ripple lawsuit between public and institutional sales, claiming the Howey test does not differentiate between purchasers based on the origin of their coins, as all purchasers could reasonably expect that they will profit based on the defendants’ efforts.
Crypto Community Roots for Another Ripple Win
Despite the strong push for the appeal, the crypto community is rooting for Ripple’s other win against the SEC. Earlier this month, John Deaton, a prominent pro-XRP lawyer, asserted the blockchain firm won’t shy away from the SEC’s likely appeal,
On August 6, Australian lawyer and digital asset enthusiast Bill Morgan suggested he saw no error in Judge Torres’ ruling. Furthermore, earlier this week, Greg Beuke, an attorney and crypto enthusiast, asserted the SEC made a “huge strategic mistake” in appealing the decision.
In a detailed post, Beuke noted the regulator “fundamentally misunderstands” the ruling, highlighting, the agency didn’t provide any “single XRP holder” who said he expected to profit from Ripple’s venture despite that being the basis of the SEC’s argument.
