The U.S. Securities and Exchange Commission (SEC) finally handed over the Hinman documents in compliance with the court order- which marks a major victory for Ripple.
Stuart Alderoty, the general counsel at Ripple, revealed that the company now has the Hinman records, including internal SEC emails and manuscripts of his controversial 2018 speech, after more than 18 months and six court orders. These records, however, are still private and confidential- not available to the public.
When Judge Torres overturned the SEC’s objections and ordered it to disclose the Hinman emails in September, the XRP community rejoiced. Within hours of the news, XRP increased by 20% as sentiment improved. However, this time around, the XRP price has remained unimpacted by the good news, which several are finding very surprising. XRP was trading at $0.44 at the time of writing, down 11.77% over the previous week and 4.40% over the previous 24 hours.
David Gokshtein, the founder of Gokshtein Media, said “I’ve changed my mind and am considering buying a bag of XRP after seeing the news”.
He wasn’t the only one to comment on this groundbreaking news.
Stuart Alderoty, general counsel of Ripple, asserts that obtaining the Hinman records “was well worth the fight.” He added, “Our legal battles have always made me feel good, and I now feel even better. I have always felt horrible about the SEC’s strategies and now feel considerably worse.”
David Schwartz, the chief technology officer of Ripple, claims that throughout the past six years, he has never been more optimistic about Ripple’s prospects or those of the whole cryptocurrency market.
Brad Garlinghouse, CEO of Ripple, tweeted, “The SEC wants you to believe that it is concerned about disclosure, clarity, and transparency. Never trust them. You will be shocked by how awful these people’s actions here were when the truth eventually comes out.”
The legal milestone is significant because it occurs at the same time as Ripple’s tenth-anniversary party.
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