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Investment Banker Declarant To Appear in XRP Lawsuit Judge Analisa Torres approves Andrew A. Kunsak of the law firm Sidley Austin LLP to appear as investment banker declarant in the US SEC v. Ripple Labs lawsuit, according to a court filing. advertisement “Andrew A. Kunsak of Sidley Austin LLP, 787 Seventh Avenue, New York, New York 10019, a member of this Court in good standing, hereby respectfully enters an appearance for Investment Banker Declarant in the above-captioned action.” The court aims to avoid disclosure of any confidential information in response to an earlier order sealed by the court. It refers to orders denying SEC’s motion to seal Hinman Speech Documents and denying Ripple’s motion to seal revenues with XRP sales and programmatic and institutional sales of XRP . The investment banker declarant wants to protect their stakeholders amid uncertainty as SEC looks to appeal Judge Torres’ summary judgment ruling. Also Re...

Discrepancy in Court Ruling The former SEC executive expressed his concerns on his LinkedIn page and suggested that the decision “seems backward” from a regulatory standpoint. Stark’s remarks have added fuel to the ongoing debate surrounding the recent court ruling from Judge Analisa Torres earlier this week. advertisement In his analysis, he questioned the basis for considering XRP as such and challenges the arguments put forth by Ripple Labs to support its claim.  Stark suggests that Ripple Labs’ classification is inconsistent with the traditional application of the Howey test, a well-established legal framework used to determine whether an investment qualifies as a SEC urity. Additionally, Stark raised concerns about what he perceives as a discrepancy in the level of SEC protection provided to institutional investors versus retail investors in the Ripple decision.  According to Stark, the decision grants full SEC protec...