Ripple Lawsuit Reveals SEC Favoritism Towards Ethereum: Ripple CEO Reacts

Ripple CEO very happy with Hinman documents

After waiting for more than 18 months, Ripple finally obtained access to former SEC director William Hinman’s emails. Ripple CEO Brad Garlinghouse expressed his satisfaction with the release of these documents. Although he couldn’t provide detailed information, both Garlinghouse and Ripple’s lead attorney, Stuart Alderoty, believe that the wait was worthwhile.

Ripple’s Hope for SEC Favoritism Revelation

Ripple had hoped that the emails would uncover evidence of the SEC unfairly favoring Ethereum over other cryptocurrencies by providing clear regulatory guidelines. It is speculated that many investors took Hinman’s statements as advice, resulting in a positive impact on the price of Ether (ETH). However, the SEC’s ongoing lawsuits against various crypto companies for allegedly selling unregistered securities further complicate the situation. The lawsuit against Ripple, initiated in late 2020, is still ongoing.

Lawyer does not find e-mails useful

Contrary to Ripple’s optimism, Gabriel Shapiro, the lead attorney of Delphi Labs, does not consider the released documents to be beneficial for Ripple and XRP. In fact, he believes that they might actually favor Ethereum. Shapiro argues that the emails do not reveal anything new and fail to support Ripple’s case. However, he does find value in understanding the SEC officials’ perspectives at the time the emails were sent, shedding light on the agency’s decision-making process and its impact on the crypto industry. Shapiro also agrees that the SEC’s regulatory approach has created confusion and chaos for the cryptocurrency space in the United States.

Conclusion

The release of William Hinman’s emails has sparked contrasting reactions. Ripple CEO Brad Garlinghouse and Ripple’s lead attorney see value in the documents and believe they were worth the long wait. On the other hand, Delphi Labs’ lead attorney, Gabriel Shapiro, is skeptical of their relevance to Ripple’s case and suggests that they may actually benefit Ethereum. Regardless, these documents provide intriguing insights into the SEC’s actions, which have crucial implications for the regulation and future of the cryptocurrency industry.

Tags

Lawsuit, Regulation, Ripple, SEC