The U.S. Securities and Exchange Commission (SEC) has removed the biography of William Hinman, the former director of the agency's Corporate Finance Division, from its official website.
The move comes just days before a court-ordered, uncensored version of Hinman's 2018 speech on digital assets was released.
Hinman's speech stating that Ethereum is not a security is crucial evidence in the ongoing litigation between the SEC and Ripple, the company behind XRP. Ripple argues that Hinman's speech is an official guide that should also be applied to XRP, while the SEC claims this is just Hinman's personal opinion.
The SEC was trying to block the release of internal documents related to Hinman's speech, but Judge Sarah Netburn ordered the agency to release them by June 13. The SEC was also ordered to explain why it redacted certain portions of Hinman's transcript and video.
The removal of Hinman's biography from the SEC website led to speculation that the agency was trying to distance itself from Hinman and his speech.
Some observers interpreted this as a sign of weakness and helplessness in the face of the SEC's upcoming document release. Others suggested that the SEC had scapegoated Hinman and was preparing to sacrifice him.
Hinman left the SEC in December 2020 and rejoined former law firm Simpson Thacher & Bartlett LLP, which has ties to the Ethereum Foundation and other entities involved in the digital asset space. Hinman is expected to testify in the Ripple trial later this year.
*Not investment advice.
