{"id":407168,"date":"2023-06-13T23:26:01","date_gmt":"2023-06-13T23:26:01","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=407168"},"modified":"2023-06-13T23:28:51","modified_gmt":"2023-06-13T23:28:51","slug":"ripple-ceo-said-hinmans-docs-were-worth-the-wait","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/ripple-ceo-said-hinmans-docs-were-worth-the-wait","title":{"rendered":"Ripple CEO Said Hinman’s docs, Were Worth The Wait"},"content":{"rendered":"

Ripple CEO Brad Garlinghouse replied to a <\/span>Twitter post<\/span><\/a> by a crypto enthusiast and YouTuber Jungle Inc, asking about his thoughts on the release of Hinman doc.<\/span><\/p>\n

In response, Ripple CEO Garlinghouse stated that both he and Ripple\u2019s Chief Adviser, Stuart Alderoty, had waited 18 months for the release of the Hinman doc, and they were worth the wait.<\/span><\/p>\n

The Hinman Document and What It Entails<\/b><\/h2>\n

The United States Securities and Exchange Commission (SEC) <\/span>sued Ripple and its two executives in December 2020<\/span><\/a>, stating that they offered unregistered securities and realized over $1.3 billion.<\/span><\/p>\n

Ripple hopes that releasing a statement referred to as the <\/span>Hinman doc on June 13, 2023<\/span><\/a>, will support its argument that XRP is not a security. <\/span>Notably, the Hinman doc contains the speech by the SEC\u2019s former Securities and Exchange Director, William Hinman, in 2018.\u00a0<\/span><\/p>\n

Hinman stated in the document that cryptocurrencies like Bitcoin<\/a> and Ether are not securities but could be more similar to a commodity when <\/span>appropriately\u00a0decentralized.<\/span><\/p>\n

Many Ripple supporters believe that when the document is released, it will be substantial evidence to give a clearer insight into the legal stance of Ripple\u2019s token (XRP).<\/span><\/p>\n

Also the recent conflicts between SEC and many crypto exchanges, including Binance and Coinbase have increased interest in the documents.\u00a0<\/span>Notably, there will be a federal court hearing on the case between SEC and Binance.US on June 13, 2023.\u00a0<\/span><\/p>\n

As such crypto enthusiasts expects that unsealing the Hinman doc will affect how the US SEC judge cryptocurrencies moving forward.<\/span><\/p>\n

Notable Reactions About the Release of Hinman Doc<\/b><\/h2>\n

There have been a lot of speculations about the Hinman docs to be released today, June 13. Some people expressed their views of hope that the doc would favor Ripple.\u00a0\u00a0<\/span><\/p>\n

Following hopes for Ripple\u2019s victory, <\/span>Jeremy Hendricks<\/span><\/a> insinuated that Ripple could take investors by storm and become the safest and best investment in crypto assets.<\/span><\/p>\n

Some <\/span>users have disclosed<\/span><\/a> the effect on XRP is impressive, seeing <\/span>\u201c58 million tokens traded in just 5 minutes on Binance.\u201d<\/p><\/blockquote>\n

A Twitter user <\/span>responding<\/span><\/a> to Jungle Inc’s post appreciated the efforts of the Ripple project team, expressing his gratitude for the tireless effort of the Ripple team since their fight with SEC began.<\/span><\/p>\n

Meanwhile, others expressed disbelief that the docs could have significant use among others. <\/span>Tony<\/span><\/a> asked if the Hinman doc could have any positive effect. He stated that the courts are already aware of it. <\/span>But at the time of writing, the <\/span>Hinman documents have been released<\/span>, causing <\/span>an uproar in<\/span><\/a> the crypto industry.\u00a0<\/span><\/p>\n

Also, <\/span>Coinmarketcap data <\/span>shows that XRP trading volume<\/a> have spiked by 102% at the time of writing, depicting increased network activities.\u00a0<\/span><\/p>\n

\n <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

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