A stunning new submitting has appeared on the docket of the XRP lawsuit between the US Securities and Change Fee (SEC) and Ripple Labs, promising what its creator calls “decisive evidence” in favor of the defendants and broader “liberty for the American people.”
FOX Enterprise journalist Eleanor Terrett broke the information through X. “An odd filing just now in the SEC vs. Ripple docket — an emergency request to ‘present decisive evidence in favor of the defendants and in favor of liberty for the American people,’” she wrote. Terrett famous that the letter was filed by a person named Justin W. Koerner.
Based on Terrett, Koerner “doesn’t make clear what the so-called ‘decisive evidence’ is or how it would benefit Ripple but hints it has something to do with physical investment contracts he’s been collecting. Looking further into Keener, it looks the SEC recently sued him for being an unregistered penny stock dealer for which a court has ordered him to pay over $10M.”
XRP Lawsuit Rocked By This Emergency Submitting
Dated April 2, 2025, the letter is addressed to the US District Choose Analisa Torres. In it, Koerner describes himself because the proprietor of “what is likely the only curated investment contract collection known,” including that his preliminary motive for gathering these paperwork was “for purposes of deeper research.”
He claims that the data discovered inside these tangible contracts has the potential to make clear essential facets of securities regulation—one thing he believes “would be of tremendous interest and value to the defendants and the broader crypto industry.”
Koerner additional declares he’s “uniquely positioned, exceptionally qualified, and deeply educated on these matters.” Emphasizing that his intent isn’t solely to assist Ripple however to champion what he calls “liberty for the American people,” he requests permission from the Court docket to submit a portion of this proprietary information.
Based on the submitting: “If permitted, we will select and submit a portion of data, information, and analysis generated by our system, The Mainframe. This would perhaps total five to 10 pages in a casual format that could be quickly reviewed and understood. It would include some definitions, summaries, bullet points, images, articles, publications, and the like. All certified and real – overall bulletproof.”
He additionally underlines that whereas he appreciates the bizarre nature of his request at this late stage of the litigation, his materials is “believed to be decisive evidence never presented before.” In Koerner’s view, the vital distinction lies within the bodily possession of classic funding contracts that “disappeared 50 to 60 years ago,” enabling him to glean a “crystal clear” understanding of securities definitions, the Howey Take a look at, and the 1933–1934 Acts.
Koerner’s submitting arrives simply because the long-running XRP lawsuit seems near decision. Two weeks in the past, the SEC dropped its enchantment in opposition to Ripple’s earlier courtroom victory. Ripple, for its half, agreed to pay a lowered high quality of $50 million—a pointy decline from the initially mentioned $125 million—whereas the SEC has dedicated to returning the remaining $75 million. Each events have withdrawn their respective appeals, and the SEC has requested the Court docket elevate an injunction on Ripple’s future institutional gross sales. All of those measures await last sign-off from Choose Torres.
Koerner’s letter references the staggering authorized prices incurred by Ripple—by his estimate, at the least $175 million in protection charges alone, with a possible further $50 million to be paid as a part of its newly revealed settlement—calling the mixed sum “not less than $225,000,000 by rough/low estimates.”
Koerner additionally highlights his personal substantial monetary burden, having spent roughly $15 million on authorized protection in his personal SEC matter. He asserts that his private analysis on the definition of a safety, formed by “20+ years of experience with investing in several hundred companies,” is perhaps an important key to resolving “10 years of nightmarish chaos.”
At press time, XRP traded at $2.0671.
Featured picture created with DALL.E, chart from TradingView.com
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