As the crypto industry eagerly anticipates the public release of former SEC employee William Hinman’s documents, Ripple CTO David Schwartz shares his perspective. Speculations arise regarding Ripple’s willingness to make the documents public, but Schwartz asserts that the judge’s ruling deems them as judicial documents, prioritizing the public’s right to access. Ripple has consistently maintained its compliance with the law since the initiation of the lawsuit. Additionally, XRP whales continue to accumulate, signaling growing optimism for the cryptocurrency.
In a 2018 speech, Hinman stated that Ethereum was not a security, a statement that has garnered significant attention within the crypto community. The upcoming public unveiling of the Hinman documents has raised expectations and fuelled speculations. Addressing these speculations, Ripple CTO David Schwartz, while acknowledging he is not a lawyer, expresses doubt regarding Ripple’s ability to refrain from making the documents public. He emphasizes that the judge’s ruling affirms their status as judicial documents and underscores the public’s right to access them.
Throughout the legal proceedings, Ripple has consistently asserted its adherence to regulatory guidelines. When the Hinman documents were released to Ripple in October, albeit under seal, Ripple CEO Brad Garlinghouse commented on the “shameful” behavior of the SEC, foreshadowing potential revelations. Founder of CryptoLaw, John Deaton, highlights one of the judge’s decisions, shedding light on the SEC’s “hypocrisy” and questioning the loyalty of its lawyers to the law. On Twitter, CryptoLaw poses a thought-provoking query: “Why did the SEC fight so vehemently against the release of these documents?” They provide the answer, stating, “On June 13, we’ll finally find out.” On this date, public redactions of the Hinman documents, cross-motions for summary judgment, and other crucial filings are expected.
Simultaneously, XRP whales are actively accumulating the cryptocurrency, further fueling optimism in the market. Crypto analyst Ali reveals that whales have acquired over 52 million XRP, valued at approximately $22.9 million, within the past three weeks alone. Santiment’s insight report highlights an intriguing trend for XRP, noting that there are millionaires emerging even during periods of low sentiment, demonstrating the commitment of significant players within the crypto market. Projects like XRP exemplify the serious involvement of prominent participants in the industry.
As the crypto community eagerly awaits the public unveiling of the Hinman documents, Ripple CTO David Schwartz maintains a positive outlook. The judge’s ruling supports the public’s right to access these documents, and Ripple stands firm in its belief that it has abided by the law throughout the legal proceedings. In the midst of this anticipation, XRP whales continue to accumulate the cryptocurrency, indicating growing optimism and underscoring the significance of projects like XRP in the crypto market.