Ripple’s Chief Legal Officer alleges that Hinman’s speech had fabricated analysis.

  • In June 2018, former SEC official William Hinman gave a speech stating that Bitcoin and Ether were not securities.
  • In December 2020, the SEC sued Ripple Labs for allegedly selling unregistered securities in the form of its XRP token.
  • Ripple attorney Stuart Alderoty claims that the documents related to Hinman’s speech contained “made-up analysis.”

Recent Ripple news shows that the US-based company is getting closer to a verdict in its legal battle against the SEC. This comes after the release of documents related to a speech given by William Hinman in June 2018.

The SEC alleges that XRP, the native cryptocurrency of Ripple, is a security. However, the price of XRP rose over 8% to above $0.55 following the document’s release.

Ripple lawyer comments on release of Hinman emails

The release of the documents means that Hinman’s views on cryptocurrencies deemed as securities are now public. Specifically, Hinman’s 2018 speech highlighted that Bitcoin and Ethereum were not securities.

Stuart Alderoty, Ripple’s Chief Legal Officer, commented on the release of the files, stating that Hinman ignored warnings about his remarks and included “made-up analysis with no basis in law.”

Ripple has maintained since December 2020 that XRP is not a security, and the statements made by Hinman in his speech are now at the center of Ripple’s defense.

The community is optimistic about the outcome of the case, believing that the SEC is losing.

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