The SEC releases emails related to the XRP lawsuit after Empower Oversight filed a lawsuit against them. Back in Aug 2021, they were requested to show these emails; however, the SEC declined the request. But, now they do not have an option. The revealing of these emails is a big win for the XRP as it shows the corrupt nature of the Securities and Exchnages Commission of the US. It might even be large enough to shift the case entirely in favor of Ripple (XRP).
About the emails
The emails suggest that William Hinman continued to meet Simpson Thacher despite the SEC ethics team’s warnings. The email dating back to Jan 2018 shows that Bill Hinman was told by the ethics office that he has an ongoing criminal financial conflict with the firm and that meeting with them in such conditions is not allowed. Even a phone call was prohibited. The email also suggests that Hinman might have been trying to give special access to the firm due to his interest in it. The ethics office was condoning this.
Even after the warnings, Hinman met with Simpson Thacher about 3 more times. Thereafter, he was also involved with Ethereum, saying it’s not security after he met the co-founders of ETH and the investors in 2018. And Simpson Thacher was involved in promoting the commercial use of ETH, which explains the speech. Hinman didn’t even reveal to the SEC the firm’s role in Ethereum.
No actions were taken against Hinman
Even after such unethical behavior, Hinman is getting retirements benefits and is doing great, and so is his firm, John Deaton, the attorney of the XRP holders in the lawsuit, claimed that he was acting as a double agent. A ruling will soon be announced, and we might finally see XRP win. A lot of legal experts predict that even if the SEC had an edge, these emails destroy it. The ball is in XRP’s court now.
If XRP wins the lawsuit, Coinbase might relist it soon, and the prices are bound to recover. What are your thoughts as the SEC releases emails related to the XRP lawsuit? And do you think this is the final nail in the coffin against the SEC for this case? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: National Bank of Georgia will regulate cryptocurrencies.
