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  • ๏ปฟAnjali Belgaumkar
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    Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto โ€œEnthusiastโ€ but trust me I'm getting there.

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Ripple Lawsuit News: Ex-SEC Lawyer Reacts to Unusual XRP Filing by $10M Fined Stock Dealer

Rippleโ€™s CEO, Brad Garlinghouse, recently shared a video celebrating what he called a victory in the long-running legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). While Rippleโ€™s executives have confirmed the case is over, thereโ€™s been no official statement from the SEC, leaving many in the XRP community wondering whatโ€™s really going on.

To add to the mystery, an unexpected filing popped up in the court case. A guy named Justin W. Keener sent an emergency request, claiming he has “decisive evidence” that could help Ripple and support freedom for Americans. But no one knows exactly what this evidence is. Keener says it has something to do with investment contracts heโ€™s been collecting.

When Fox Businessโ€™ Eleanor Terrett looked into Keener, she found out the SEC had recently sued him for being an unregistered penny stock dealer. A court ordered him to pay over $10 million because of it.

Also Read: XRP News Today: Price Rises 4%, Ripple Outpaces BTC and ETH in South Korea

Legal experts arenโ€™t taking his filing seriously. Former SEC lawyer Marc Fagel said itโ€™s basically like spam getting through the courtโ€™s system and will likely be thrown out quickly. He explained that Keener isnโ€™t part of the case and doesnโ€™t have the right to submit evidence.

Some people asked if Judge Analisa Torres might change her decision about Rippleโ€™s liability. Fagel replied that this isnโ€™t possible. โ€œJudge Torres wonโ€™t be asked to, nor will she, โ€˜revokeโ€™ her ruling on liability,โ€ he said. Instead, both sides will try to adjust the remedies, not the original decision.

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