Legal
Ripple CTO David Schwartz expresses his viewpoint as the crypto industry awaits the public unveiling of the documents of former SEC employee William Hinman. In a 2018 speech, Hinman stated that Ethereum was not a security.
As expectations build up, so do speculations as to whether Ripple would agree to make them public.
Schwartz responds to such speculations by saying that although he is no lawyer, he does not think Ripple can agree not to make them public. He adds that the judge has ruled that they are judicial documents and that no factors outweigh the public’s right to access them.
I am not a lawyer, but I don’t think Ripple can agree not to make them public. The judge has ruled that they’re judicial documents and that no factors outweigh the public’s right of access to them.
— David “JoelKatz” Schwartz (@JoelKatz) May 28, 2023
Since the lawsuit was initiated, Ripple has maintained that it remains on the right side of the law. Shortly after the Hinman documents were released to Ripple in October but under seal, Ripple CEO Brad Garlinghouse said “the shamefulness” of the SEC’s behavior would be “shocking.”
CryptoLaw founder John Deaton recounts one of the judge’s decisions, which highlighted the SEC’s “hypocrisy” while saying that the SEC’s lawyers “lack a faithful allegiance to the law.”
CryptoLaw asks an important question on Twitter: “Why did the SEC fight so hard to stop us from ever seeing these documents?”
It answered, “On June 13, we’ll finally know.” On June 13, public redactions of Hinman documents, cross-motions for summary judgment and others are expected to be filed.
Meanwhile, whales continue to accumulate XRP as optimism builds. Crypto analyst Ali reports that whales appear bullish on Ripple as they have purchased over 52 million XRP worth around $22.9 million in the past three weeks.
In a community member’s insight report, Santiment spots an interesting trend for XRP: “There are millionaires when sentiment is at its lowest, and what’s interesting is that the trend is up.”
It adds that “Projects such as XRP show how serious players are in the crypto market.”
