Currently, the SEC's lawsuits against the largest crypto exchanges Binance and Coinbase are discussed, while the possible consequences of the SEC's lawsuit against Ripple in previous years and its impact on Binance-Coinbase lawsuits are discussed.
While many were waiting for a decision in favor of Ripple in the SEC-Ripple case this year, important statements regarding the case came from Ripple CEO Brad Garlinghouse.
Making a statement on his Twitter account, Garlinghouse stated that he did not want to go into too much detail and implied that the Hinman Documents, which are important in the XRP case, will be announced on Tuesday.
When asked by "Jungle Inc" if he had any thoughts before the Hinman documents were released, Garlinghouse said without intending to go too far, saying that both he and Ripple General Counsel Stuart Alderoty fought hard to uncover these documents.
Garlinghouse stated that these documents were worth waiting for and used the following statements:
"I wish I could go deeper now, but we've waited this long, more than 18 months. So I don't want to go overboard…
Suffice it to say Stuart Alderoty, Ripple General Counsel, and I think it was worth the wait for these documents."
Wish I could go in depth now, but we've waited this long (18+ months), I don't want to overstep… suffice it to say @s_alderoty and I believe they were well worth the wait.
— Brad Garlinghouse (@bgarlinghouse) June 12, 2023
The aforementioned Hinman Documents include a speech by William Hinman, former director of the SEC, at the Yahoo Finance Summit in 2018.
Although the SEC wanted to keep these documents confidential, the court did not accept this confidentiality request. The court ruled that the SEC should release these documents.
Despite the SEC, making great efforts to submit the Hinman documents, Ripple believes these documents will be very important about the SEC's stance on cryptocurrency classifications and is trying to obtain these documents.
Because in his speech, Hinman says that Ethereum (ETH) is not a security. After the release of these documents, it will become clear why Hinman concluded that ETH is not a security.
In addition, many Ripple supporters believe that the disclosure of the documents will be useful in gaining clearer information about the legal status of Ripple's token XRP.
While the Hinman documents are expected to be released in the Ripple case, the XRP price reacted positively to this news. It is trading at $0.5287, up 3% in the last 24 hours.
*Not investment advice.
