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Ripple President Comments on the Unsealing of Hinman’s Docs

source-logo  thecryptobasic.com 26 May 2023 07:32, UTC

Ripple President Says Unsealing of Hinman Emails is a Win for Transparency.

Top cryptocurrency stakeholders have been reacting to the recent ruling by Judge Analisa Torres ordering the unsealing of Hinman’s docs and other summary judgment materials.

The development sparked mixed reactions among crypto enthusiasts. Many people majorly commented on the significance of Judge Torres’ ruling on Hinman’s docs.

Interestingly, Ripple’s President Monica Long joined other crypto stakeholders to comment on the development. In a recent CoinDesk interview, Long asserted that unsealing Hinman’s docs is a win for transparency.

According to Ripple’s president, the transparency from the unsealing of Hinman’s docs will provide clarity for the United States crypto industry. She added that the unsealing of Hinman’s emails would impact Judge Torres’ summary judgment decision in the SEC vs. Ripple lawsuit.

“The ruling on Hinman’s emails is certainly a win for transparency. The crypto industry at large is seeking clarity from the United States, and we think this transparency will go a long way and ultimately, of course, the ruling in our case,” Long remarked.

It bears mentioning that Ripple appointed Long as its president in January 2023. Her appointment came after working with the company for over nine years. Long joined the Silicon Valley-based blockchain company as Director of Communications in September 2013.

Deaton Commends Ripple CEO

Meanwhile, in a tweet today, pro-XRP lawyer John Deaton reacted to Long’s remark on Hinman’s docs. According to attorney Deaton, Ripple’s president was on point to assert that the unsealing of Hinman’s emails is a major win for transparency.

@MonicaLongSF is on 🎯 when she says the unsealing of the Hinman emails is a win for transparency. When we read these emails, drafts of the speech, and comments by SEC senior staff, people will ask:

“Why did Hinman and a few others insist on this lawsuit?” #itwasaweapon https://t.co/xpGFTPGjrB

— John E Deaton (@JohnEDeaton1) May 26, 2023

Deaton stated that when Hinman’s docs are released, and people get to read them, they will ask why the former director of the SEC’s Corporation Finance and a few others insist on the lawsuit against Ripple.

Recall that in October 2022, Fox Business Journalist Eleanor Terrett disclosed that a source told her that former SEC Chair Jay Clayton favored settling with Ripple instead of suing the company. However, Hinman didn’t support the idea of a settlement with Ripple and insisted on a lawsuit.

In a throwback of events on May 16, Judge Torres denied the SEC’s motion to seal the docs because they are judicial documents subject to a strong presumption of public access.

The docs involve internal communication among top SEC officials related to William Hinman’s 2018 speech on cryptocurrencies. Hinman’s docs comprising 63 emails and 52 drafts are expected to be unsealed on June 13, 2023.

However, there is speculation that the public might not get to read Hinman’s emails, as the SEC and Ripple may settle before that date.