On May 25, defence counsel James Filan tweeted that the court had granted the SEC another opportunity to respond to the amicus petition filed by XRP holders. Judge Analisa Torres has allowed the SEC legal team an extension until June 7 to oppose XRP holders’ desire to intervene. Originally, the deadline was set for May 31. However, because of the forthcoming holiday and other briefing deadlines, the SEC requested more time.
Following the testimony of SEC witness Patrick Doody, these six XRP holders submitted a request for amici status to participate in the briefing process.
The defendants and amici curiae counsel did not oppose the SEC’s request. Responses to the SEC’s objection, on the other hand, are due by June 10.
Ripple CEO Brad Garlinghouse stated earlier this week at the World Economic Forum in Davos that the company is likely to consider an initial public offering (IPO) if the SEC’s legal dispute against Ripple Labs is resolved.
The legal battle has already lasted over 15 months nonetheless, Garlinghouse argued that Ripple is ready to go public since it has grown stronger even as the lawsuit is ongoing. The corporation has been adding new consumers, mostly from outside the United States.
The CEO also remarked that he does not expect the bulk of cryptocurrencies (of which there are already 19,000, as noted by the CNBC host) to survive into the future.
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