Ripple Wins “Biggest Decision” in XRP Lawsuit, Here Is How Significant It Is; Shiba Inu Starts Bid Event for Metaverse

In recent updates shared by defense lawyer James K. Filan, U.S. Magistrate Judge Sarah Netburn has denied the Securities and Exchange Commission’s motion for reconsideration of the deliberate process privilege (DPP) ruling. The former federal prosecutor claims that it is a “very big win” for Ripple.

XRP-friendly attorney John Deaton earlier referred to this move as the “biggest decision in the XRP lawsuit” because of the implications for the outcome of the case, the future of both Ripple and the SEC, as well as the future of XRP, and likely the broader cryptocurrency ecosystem.

This important Ripple victory could bring the XRP lawsuit to a finish sooner rather than later, as many people familiar with the case believe the SEC would prefer to settle than hand over its documents. The SEC has 14 days to file an objection to District Judge Torres’ judgment.

The decision could be an even larger win for Ripple because it includes a “bulletproof clause” that is expected to block an appeal, forcing the SEC to settle even sooner.

According to the order, ”The SEC seeks to have it both ways, but the Speech was either intended to reflect agency policy or it was not. Having insisted that it reflected Hinman’s personal views, the SEC cannot now reject its own position. The Speech was not an agency communication, and the deliberations as to its content are not protected by the privilege”.

”The SEC’s assertion that the Speech was intended to communicate Corporation Finance’s approach to regulating digital asset offerings is inconsistent with the SEC’s and Hinman’s previous position that the Speech was intended to and did reflect his personal views”, the order stated.

Shiba Inu Starts Bid Event for Metaverse

A Twitter user dedicated to the Shiba Inu community, @shibainuart, has recently shared details on a new utility for SHIB in SHIB – The Metaverse as the Bid event starts. SHIB will be used to add pictures, and logos, to the land plots. The feature also will burn SHIB each time pictures are changed.

SHIB can be used to name or rename land plots, while also burning SHIB every time it’s been done, thus promoting a SHIB identity to the environment.SHIB will also be used to lease HUBS. HUBS are the highest valued lands (blocked/reserved spaces) in the entire space.

SHIB Burns and renaming will also be available during the Public Sale stage, and after both the bid and holder event stages have ended. The Shiba Inu team states it will notify the community when the feature is available.

During the introductory phase for SHIB: The Metaverse, 36,431 plots of land will become unlocked while revealing portions of four different districts: Growth District, Defense District, Technology District, and Currencies District. In total, SHIB: The Metaverse will consist of 100,595 plots of land.

Shiba Inu rose more than 20% following Robinhood listing news and trades at $0.0000265 at press time.

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