SEC Dismissing XRP as Security and Removing Hinman from Official Website – Is This the Final Victory for Ripple? Report

• The SEC has taken down a substantial portion of William Hinman’s biography from its website.
• It is important to highlight that Hinman’s emails have become crucial to the SEC vs. Ripple lawsuit.

The SEC has taken down a substantial portion of William Hinman’s biography from its website, just as there are merely eight days remaining until the release of his emails to the public.

Until recently, the biography of William Hinman on the SEC’s website contained crucial information about his professional background, particularly his employment history as the former director of SEC’s Corporation Finance division.

Nevertheless, the biography of Hinman on the SEC website now merely indicates that he served as the director of SEC’s Corporation Finance division from May 2017 to December 2020.

Speculations on the SEC’s Intention with Hinman

The news has triggered responses from members of the XRP community, who eagerly await the publication of Hinman’s emails. Numerous XRP enthusiasts claim that the SEC is getting ready to scapegoat Hinman as they anticipate the imminent release of unredacted emails within the next eight days.

The @SECGov has now removed Bill Hinman’s biography from its website. Getting ready to throw him under the bus. pic.twitter.com/O7HCUGWSgt

— Mr. Huber🔥🦅🔥 (@Leerzeit) June 5, 2023

Controversy Surrounding Hinman’s Documents

It is important to highlight that Hinman’s emails have become crucial to the SEC vs. Ripple lawsuit. Following the SEC’s accusation of Ripple for violating U.S. securities laws, the prominent blockchain company requested the draft versions of Hinman’s 2018 speech to strengthen its fair notice defense. 

In his 2018 speech, Hinman classified Bitcoin and Ethereum (ETH) as non-securities. Still, he did not explicitly discuss the legal classification of XRP, despite its prominent position among the top three cryptocurrencies at that time.

The SEC tried to prevent the disclosure of Hinman’s documents to Ripple, but their attempts to keep them sealed were unsuccessful. Last month, Judge Analisa Torres denied the SEC’s motion to keep the content of Hinman’s emails confidential.

After a joint request for a one-week extension, the court has decided that Hinman’s emails and other summary judgment materials should be unsealed on June 13, 2023.

A Surge in XRP Address Activity

Renowned cryptocurrency analyst Ali Martinez has brought attention to the growing XRP network and its potential influence on price movements. Martinez, citing data from the crypto intelligence platform Santiment, emphasized the rising count of newly generated addresses on the XRP blockchain, a factor often regarded as a reliable indicator of price trends. Martinez stated that a sustained increase in new address creation typically foreshadows a substantial upward movement in price.

In the past few days, there has been a notable surge in address activity within the XRP network, capturing considerable attention. This unusual occurrence was first reported by Crypto News Flash, a renowned cryptocurrency news platform, towards the end of May, referring to data from Santiment. What makes it even more remarkable is that these spikes in address activity rank as the second and third largest observed throughout the entire monitoring period of XRP.

Despite experiencing a significant 11% rise in value within the past week, XRP is encountering a substantial selling response as it reaches the crucial level of $0.54. Successfully surpassing this obstacle would pave the way for the next target of $0.6. The realization of Martinez’s predictions concerning the price surge is yet to be seen.