Ripple vs. SEC News: Ripple’s Defense Lawyer Bids Adieu, Twitter Users Ask ‘Have They Reached a Settlement?’
Kylie Chiseul Kim, one of the defense attorneys representing Ripple Labs Inc. in the SEC lawsuit, has submitted a motion to withdraw from the case. In the motion filed in the Southern District of New York, Kim stated that she will no longer be associated with the law firm Kellogg, Hansen, Todd, Figel & Frederick, P.L.L.C., which is currently representing Ripple Labs.
The document also clarified that other attorneys from the same firm and counsel from Debevoise & Plimpton LLP will continue to represent Ripple. Kim, along with Clayton J. Masterman joined the Ripple legal team in July 2022. Their addition was aimed at bolstering Ripple’s legal team in preparation for a potentially lengthy legal battle.
After Kim’s decision to withdraw, the remaining legal team at Kellogg, Hansen, Todd, Figel & Frederick, P.L.L.C., supported by counsel from Debevoise & Plimpton LLP, will carry on representing Ripple Labs in the ongoing litigation.
The news of Kim’s exit has sparked a range of reactions on Twitter. This unexpected development has left many guessing about the possible outcomes of the lawsuit’s progression.
Twitter users speculated that Kim may have been waiting for the lawsuit to end before moving on to a new job or company. However, users on the internet are rolling out various theories. One of the users said, “She’s a litigation lawyer. Resolving rights-based disputes through the court system. Is it safe to say they reached a settlement and now her job is done?”
Another wrote, “I believe she is a litigation specialist who was brought in the team for settlement. Can we read between the lines here and say task is complete ( settlement was made ) and time to move onto next contract.”
The cryptocurrency sector is currently awaiting a decision in the prolonged Ripple vs. SEC lawsuit. The resolution is expected to have an impact on the entire sector.