As the SEC Ripple lawsuit goes through its daily hearing, Ripple now wants former SEC officials to testify under oath in a new strategic move.
Deposit request from Ripple:
A few days earlier, James K. Filan; a member of Ripple’s legal team and the former federal attorney made Ripple’s motion public for a former SEC official to be deposited.
He further clarified the importance and purpose of dismissing the former SEC official, as he said:
“That means Ripple wants to question a former SEC official under oath.”
Answer from the SEC:
In response, the agency wrote a letter to the court asking them not to allow Ripple to dispose of their former officials. SEC stated that it was “Intends to file a motion for the annulment of the summons served by the defendants”
Jay Clayton most likely candidate:
Although the official’s name has not yet been released, former SEC chairman Jay Clayton appears to be the most likely candidate. Once the SEC filed the lawsuit against Ripple, he was severely scourged by Ripple CEO Brad Garlinghouse on many occasions. Just one day after the SEC officially filed the lawsuit against Ripple, on December 21, Garlinghouse gave an interview to Fortune magazine in which he stated that the lawsuit filed was not only worthy but also shocking.
On the same day, he made a series of tweets in which he spoke to then-SEC chairman Jay Clayton of “Attack crypto”, “Select winner“, restrictive “US innovation in the crypto industry on BTC and ETH“ and “To benefit China directly“ as he argued that most of the BTCs and ETHs are produced there, while Ripple is a US-based company.
In addition, the timing of the lawsuit has also been criticized as terrible by Ripple officials and many independent figures. Garlinghouse had said that since Jay Clayton had one foot out the door when he filed the lawsuit, it was misguided.
Other potential, but less likely, contact persons that Ripple could ask for a testimony include Sagar Teotia, William Hinman, and Stephanie Avakian. They all left the agency just a few months ago.