News View Non-AMP

Ripple Vs SEC News: Judge Unseals Hinman Documents, Could This Backfire For XRP?

Published by
Nidhi Kolhapur

Ripple’s legal tussle with the U.S. Securities and Exchange Commission (SEC) took a dramatic turn as District Judge Analisa Torres rejected the SEC’s request to seal documents connected to a controversial 2018 speech by the SEC’s former Corporation Finance Director, William Hinman. 

The crypto community has largely welcomed this development, but John Deaton, a vocal Ripple supporter, expressed concerns that the ruling could pose challenges for Ripple.

For More Context: Breaking: Judge Torres Denies the SEC’s Motion to Seal the Hinman Documents-Is This the Final Nail on the Coffin? – Coinpedia Fintech News

The Howey Analysis Hangs in the Balance

Deaton pointed out a particular segment of the court’s decision that may prove worrisome for Ripple. This section emphasized Ripple’s XRP sales and payment to third parties for listing XRP, factors directly connected to the Howey analysis – a key component of the litigation. The relevance of this financial data to the Howey test could potentially strengthen the SEC’s case, creating a potential hurdle for Ripple.

The Implications of the Ruling

To further dissect the nuances of Judge Torres’ recent decision, Deaton took to Twitter to announce his intention to join a discussion on a Twitter Space titled, “Hinman Emails DOXXED with John Deaton.” The discussion, scheduled for 12 a.m. UTC, promised to delve into the implications of the court’s remarks.

The SEC had initially sought to seal the documents related to Hinman’s speech on December 22, contending that the documents held no relevance to the court’s summary judgment decision. The Commission argued that its mission’s importance trumped the public’s right to access these documents.

Also Read: Ripple Vs SEC Lawsuit To End In Next 2 To 6 Months? Here’s What the CEO Brad Garlinghouse Says – Coinpedia Fintech News

Torres Hits Back

However, Torres countered this argument, categorizing the documents as “judicial documents” that are subject to public access. The Judge asserted that the “Hinman Speech Documents would reasonably have the tendency to influence [the Court’s] ruling on a motion.”

She further dismissed the SEC’s claim that sealing the documents was vital to maintaining “openness and candor” within the SEC. According to her, “the Hinman Speech Documents are not protected by the deliberative process privilege because they do not relate to an agency position, decision, or policy.”

Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Recent Posts

Dogecoin (DOGE) and 3 Other Coins Under $0.40 Positioned to Beat Cardano (ADA) in Gains in 2025

Cardano (ADA), a cryptocurrency noted for its scalability and performance emphasis, is rapidly declining with…

April 3, 2025

Bitcoin Price Prediction 2025, 2026 – 2030: Is $100k Arriving Anytime Soon?

Story Highlights The Bitcoin price today is . The BTC price could hit a maximum…

April 3, 2025

Ripple Releases 1 Billion XRP—Again, Is Something Big About to Happen?

Ripple has once again unlocked a massive 1 billion XRP, the second time in a…

April 3, 2025

Crypto Fear and Greed Index Hits Multi-Month Low: Is a Recession-Led Crypto Crash Coming?

Following President Trump's Tariff announcement that shook the markets across the world, the crypto market…

April 3, 2025

Pi Coin Price Crashes 78%: Is This the End for the Once-Hyped Cryptocurrency?

Pi Coin, once one of the most hyped cryptocurrencies, is now in deep trouble. After…

April 3, 2025

Metaplanet Boosts Bitcoin Holdings with ¥2.63 Billion Raise

Japanese public company Metaplanet has secured ¥2.63 billion in funding to expand its Bitcoin holdings.…

April 3, 2025