Ripple CEO Brad Garlinghouse has strengthened his legal team by bringing on board attorney Rahul Mukhi from Cleary Gottlieb Steen & Hamilton LLP. Mukhi is a highly experienced legal professional specializing in criminal, securities, and regulatory matters, as well as complex commercial litigation. He has previously served as an Assistant U.S. Attorney in the Southern District of New York and has worked on high-profile cases involving public corruption, cybercrime, financial fraud, and international organized crime. With Mukhi joining Ripple’s defense, the company aims to bolster its legal arsenal against the ongoing legal confrontation with the U.S. Securities and Exchange Commission (SEC).
The addition of Rahul Mukhi to Ripple’s legal team is a strategic move by Garlinghouse amid the legal turmoil with the SEC. Mukhi’s extensive experience in handling cases related to enforcement and regulatory matters adds considerable weight to Ripple’s defense. He has represented various corporations and individuals in government and regulatory investigations, particularly in areas such as cybersecurity, anti-corruption, and insider trading. This appointment aims to strengthen Ripple’s position as the company gears up for an upcoming trial in spring 2024, where the liability of Ripple’s executives, including Garlinghouse, will be determined.
The legal battle between Ripple and the SEC has already achieved a partial victory for Ripple, with XRP’s secondary sales not classified as unregistered securities. However, the SEC is now pursuing an interlocutory appeal, prolonging the legal confrontation. With an experienced attorney like Mukhi on their side, Ripple hopes to navigate the complex legal landscape and achieve a favorable outcome in the upcoming trial. The addition of Mukhi to the legal team showcases Ripple’s commitment to defending its position and highlights the significance of the legal showdown with the SEC for the future of the company and the broader cryptocurrency industry.