Investment Banker Takes Part in Ripple-SEC Battle as a Declarant

Investment banker Andrew A. Kunsak, from the law firm Sidley Austin LLP, has been approved by Judge Analisa Torres to appear as a declarant in the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). The approval was granted according to recent court filings.

In the court announcement, Andrew A. Kunsak of Sidley Austin LLP is mentioned as a member of the court in good standing, entering an appearance as an Investment Banker Declarant in the case.

A declarant is a person who makes a formal statement or declaration in legal terms. In this case, Andrew A. Kunsak is appointed as an investment banker declarant to ensure the safeguarding of certain confidential details related to the case.

Investment banking involves dealing with a large amount of financial information, including transactions, business strategies, and client data. Some of this information may be part of the ongoing Ripple vs SEC case, and it is important to keep it private. Andrew’s role as an investment banker declarant is to ensure the confidentiality of this information.

The SEC has filed a motion for an interlocutory appeal against Judge Torres’s ruling, which stated that programmatic sales of XRP are not securities under the Howey Test. The securities regulator is also seeking to halt further proceedings until the court resolves its concerns.

However, Ripple’s chief legal officer, Stuart Alderoty, clarified that the SEC is requesting the court’s permission to file an appeal and not actively appealing the decision on XRP as a security.

The news of this latest development has caused a slight dip in the price of XRP, with a 3% fall in the last 24 hours, trading at $0.60. Despite this, crypto enthusiasts remain optimistic and are closely following the unfolding legal drama.

Investment banker Andrew A. Kunsak’s appearance as a declarant in the Ripple vs SEC case signifies the importance of safeguarding confidential information in legal proceedings. With the SEC seeking an appeal against Judge Torres’s ruling, the outcome of this legal battle continues to capture the attention of the cryptocurrency market.