• An unknown third-party has reengaged in the SEC vs. Ripple legal battle, raising questions about their identity and reasons for involvement.
• Intense speculation within the XRP community is centered around the concealed identity of the banker.
• A theory suggests that the anonymous individual could be Mike Novogratz of Galaxy Digital or Tetragon.
SEC vs Ripple Labs Legal Battle
The US Securities and Exchange Commission (SEC) is currently engaged in a legal battle with Ripple Labs, which recently saw an unknown third party formally re-engage in proceedings overseen by Judge Analisa Torres. The decision to remain anonymous has sparked intense speculation as to who this individual could be.
Investment Banker Declarant
This previously unidentified figure is known as the “Investment Banker Declarant” and submitted a document on August 15, 2023 through Andrew A. Kunsak of Sidley Austin LLP which states that they should receive copies of all case related entries, directives, notifications, and other legal documents pertaining to this litigation. The Investment Banker had previously provided a statement supporting the SEC’s motion for summary judgement, though Ripple Labs had objected due to its anonymous nature citing potential “harassment” if their identity was revealed.
Speculation Within XRP Community
The ongoing anonymity has led to much conjecture among members of the XRP community as to who this declarant may be. One popular theory advanced by Mr Huber and Attorney John Deaton suggests it may be Mike Novogratz from Galaxy Digital or Tetragon given his history as a shareholder in Ripple.
Objection From SEC
Ripple Labs argued that since the declarant voluntarily participated in issuing a statement and became part of this case, then they should not remain anonymous – however, this stance was backed up by the SEC who agreed with the potential for harassment if their identity were revealed.
The true identity of this anonymous Investment Banker remains uncertain at present but will undoubtedly become clear over time as proceedings continue throughout this ongoing legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC).