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As the Ripple vs. SEC June 13 deadline approaches, the commission is deleting Hinman's biography
The US Securities and Exchange Commission (SEC) has mysteriously removed the biography of former commissioner William Hinman from its website. This comes just eight days before the court requires the SEC to provide unredacted copies of all of Hinman's emails - widely seen as crucial to the agency's lawsuit with crypto industry giant Ripple. Are Hinman's emails the decisive evidence? On the SEC's website, Hinman's bio only includes his name, photo, and his former role as "Director of the Division of Corporate Finance" from May 2017 to December 2020. His previous bio states,...
As the Ripple vs. SEC June 13 deadline approaches, the commission is deleting Hinman's biography
The US Securities and Exchange Commission (SEC) has mysteriously removed the biography of former commissioner William Hinman from its website.
This comes just eight days before the court requires the SEC to provide unredacted copies of all of Hinman's emails - widely seen as crucial to the agency's lawsuit with crypto industry giant Ripple.
Are Hinman's emails the decisive evidence?
On the SEC's website, Hinman's bio now only includes his name, photo, and his previous role as "Director of the Division of Corporate Finance from May 2017 to December 2020. His previous bio states that in his role, Hinman "provided interpretive guidance to companies regarding SEC rules and makes recommendations to the Commission on new and existing rules."
The @SECGov has now removed Bill Hinman's biography from its website. I'm getting ready to throw him under the bus. pic.twitter.com/O7HCUGWSgt
— Mr. Huber🔥🦅🔥 (@Leerzeit) June 5, 2023
The month in which Hinman left was the same month in which the SEC filed its lawsuit against Ripple Labs for the unregistered sale of the cryptocurrency XRP, which plunged 45% in value that day and has moved far away from its previous position as the top 3 crypto by market capitalization.
Hinman is known to have supplied onespeechin 2018, he said that he did not consider current transactions and sales of Ether to be securities transactions. Given that XRP was distributed in a similar manner to ETH, Ripple and other SEC critics have long sought internal transcripts and discussions of the speech to determine whether ETH received preferential treatment over XRP.
The end is near
The Ripple V. SEC case is at the center of the US crypto industry, which seeks clarity and legal precedent on which cryptocurrencies are delegated as securities in the United States. Both the SEC and Ripple filed summary judgment in December 2022, raising hopes that its closure could be in sight.
RippleThe victory inBackupHinman's speech documents in October 2022 were also considered a major victory, but remained confidential at the time.
Prominent voices in crypto likeCharles HoskinsonI expect the SEC lawsuit to likely conclude this month. Ripple CEO Brad Garlinghouse said early last month that he expected a summary judgment on the case to be issued within “3 to 6 weeks.”
Ripple has already spent $200 million in court to defend its position that XRP is not a security because it does not meet all of the requirements of the SEC's oft-cited Howey test.
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