• The controversial William Hinman statement has been released to the public.
• XRP price rises as Garlinghouse accuses the SEC of “weaponizing” its power.

The price of Ripple [XRP] increased by 7.94% in the last 24 hours as the much-talked-about William Hinman document went public. Recall that the documents have been one of the deciding factors stalling the judgment of Ripple’s case with the U.S. SEC.

Read Ripple’s [XRP] Price Prediction 2023-2024

The now-released document showed how the then Director of Corporate Finance explained which assets were securities and which were not. 

The cat is out of the bag

Hinman, who headed the trading, investments, and market division at one point, mentioned that assets including Bitcoin [BTC] and Ethereum [ETH] were not security offerings. The statement read,

“Applying the disclosure regime of the federal securities laws to the offer and resale of Bitcoin would seem to add little value.[9] And putting aside the fundraising that accompanied the creation of Ether, based on my understanding of the present state of Ether, the Ethereum network and its decentralized structure, current offers and sales of Ether are not securities transactions.”

It was because of this statement that Ripple’s CEO Brad Garlighouse argued that the SEC lawsuit against XRP’s $1.3 billion unregistered security offering was n

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Author: Victor Olanrewaju

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