The submission of Hinman's Speech documents to Ripple and the defendants was done by the US Securities and Exchange Commission (SEC) as there were important points in the SEC filing that could give Ripple a win.
According to John Deaton, Amicus Curiae and attorney for XRP holders stated that the SEC filing is a non-encouraging claim since the SEC did not offer any specific sale by contract.
He added that the sale was likely done by knowledgeable investors in order to enter the secondary market, although the specific transaction was not mentioned after the SEC submitted all of the transactions.
Without the continued efforts of the founders of XRP, the digital asset would not be able to develop or create a secondary market, emphasized Deaton who also said that the SEC's argument was only a "But For" that is an argument for a situation without the matter actually happening.
Therefore, Deaton revealed that the argument is very dangerous because it can be said as "But For" Satoshi Nakamoto Bitcoin (BTC) would not exist.
In the meantime, the SEC has filed a Memorandum in Opposition against Ripple at the time of the delivery of Hinman's speech documents to the defendants.
The streak, the long-running case, is likely to go in Ripple's favor if the SEC takes a different approach that could give them trouble.
