Ripple CEO reveals scandalous SEC secrets

The recent publication of Hinman’s documents, a former SEC executive, has surprised the crypto community. They were supposed to provide the elements to settle the debate about the security or non-security nature of cryptocurrencies. Instead, the documents in question have only created more confusion. The situation was such that Ripple CEO Brad Garlinghouse called for investigations into William Hinman.

According to Ripple’s CEO, Hinman received funds from interested third parties.

Following the publication of Hinman’s documents, Ripple CEO Brad Garlinghouse called for an investigation. The investigations were supposed to target this former SEC executive. In 2018, Hinman delivered a crucial speech on the legal status of cryptocurrencies.

It is now clearly established that this speech was conceived and delivered in a murky and ambiguous context. What is less known so far is the reason behind the doubts that plagued the preparation of this famous speech. In this regard, Brad Garlinghouse offers an intriguing explanation.

The Ripple CEO advances the idea of collusion in this matter. According to him, William Hinman would have received financial contributions from parties with a particular interest in the outcome of this speech. Garlinghouse claims that the former SEC official received several million dollars from his law firm.

Since this law firm is connected to individuals with a direct interest in the speech, there would have been a conflict of interest. This conflict of interest would explain the confusion perpetuated by these documents regarding the nature of cryptocurrencies.

“While in office, Hinman received millions of dollars in payments from his law firm, which was part of an alliance with other individuals with a direct interest in this speech“, said the executive.

According to the latter, this would partly explain Hinman’s position, which seemed to willfully ignore the law. This attitude would be the source of the regulatory ambiguity concerning cryptocurrencies, an ambiguity that Brad Garlinghouse believes William Hinman was fully aware of.

Ripple CEO Brad Garlinghouse: Former SEC Official William Hinman Received 'Millions of Dollars' From Law Firms With a 'Vested Interest' in His Speech – Bitcoin News https://t.co/DZk4WznIy9 pic.twitter.com/z9NeIQ8r1R

— Harald Schendera (@HSchendera) June 19, 2023

Unfounded allegations?

It must be said that the allegations made by the Ripple executive do not appear to be based on any verifiable source. In any case, he does not mention the basis of his accusations. Therefore, their credibility is difficult to establish in the current state of affairs. In the meantime, the crypto community now apprehensively awaits the court’s decision in the case pitting Ripple against the SEC.

As the legal saga continues, Brad Garlinghouse’s allegations add a new layer of complexity to the story. If the accusations of collusion and conflicts of interest are proven, it could shed a new and dark light on the role of the SEC in cryptocurrency regulation.