Ripple

Where is Ripple vs SEC Heading? William Hinman Says he warned ripple officials!

Written by: Anjali Belgaumkar

August 20, 2021

XRP climbed from $0.75 to $1.35 in the second week of August, transforming the Ripple coin picture into a bullish one. Since late July, Ripple has surged roughly 180 percent, putting it at the forefront of the cryptocurrency rally. 

A trial revealed the testimony of former SEC corporate finance director William H. Hinman in the litigation between the US SEC and Ripple over the XRP’s validity as a security.

Ripple: If we’re doing something wrong, how can we fix it?

Hinman: You can’t. Just stop selling XRP until we get our lawsuit finished.

Ripple: That’s extremely unhelpful.

Hinman: I’ll be more helpful when I get back into private practice. Call me then.”

The majority of the testimony was withheld at the SEC’s request in the court’s “Motion to Seal.” 

Major twists and turns for XRP VS SEC case!

Former officials of SEC are being investigated for suspected conflicts of interest in the agency’s handling the Ripple case. 

The Empower Oversight is leading inquiries after submitting a request for contact between SEC officials and their present and previous employers.

Former director of the SEC’s Division of Corporate Finance, William Hinman, confirms that he warned Ripple about XRP. 

Hinman claimed in a July deposition that he told a Ripple official that XRP was an unregistered security. The SEC claims that XRP was an unregistered security at the time of its debut and that it is still one today. 

All crypto assets are not considered securities by Hinman. He stated in a 2018 lecture that due to the decentralised nature of their networks, he does not believe Ethereum or Bitcoin are securities.

The SEC claims that XRP was an unregistered security at the time of its debut and that it is still one today. 

All crypto assets are not considered securities by Hinman. He stated in a 2018 lecture that due to the decentralised nature of their networks, he does not believe Ethereum or Bitcoin are securities.

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

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