And so, one way or another, Crypto.com reached the precipice. If he wins the first “maturity” question and is allowed to make his case, little will stand in his way. Its arguments on the merits are strong, and there are few courts more sympathetic to these arguments than the EDTex. From there, the case would go to the Fifth Circuit, the court the SEC fears most. And then, perhaps, the Supreme Court, where she would have a sympathetic panel and one of the most experienced appellate lawyers in the country to make her case.