{"id":407719,"date":"2023-06-15T15:07:43","date_gmt":"2023-06-15T15:07:43","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=407719"},"modified":"2023-06-15T15:07:58","modified_gmt":"2023-06-15T15:07:58","slug":"lawyer-alleges-that-hinman-received-money-to-attack-xrp-through-his-ether-speech","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/lawyer-alleges-that-hinman-received-money-to-attack-xrp-through-his-ether-speech","title":{"rendered":"Lawyer Alleges That Hinman Received Money To Attack XRP Through His Ether Speech"},"content":{"rendered":"
Pro-XRP lawyer Jeremy Hogan has <\/span>remarked<\/span><\/a> about the recently redacted Hinman speech documents.\u00a0<\/span><\/p>\n The lawyer said Hinman\u2019s speech was a deliberate attack on XRP, claiming the former SEC director received money to grant an “ETH free pass.”<\/span><\/p>\n Attorney Hogan’s remark follows several reactions from prominent industry players who commented amid the heated controversy generated by the recently released documents.\u00a0<\/span><\/p>\n The Hinman documents relate to internal considerations at the SEC, which led to the former SEC director delivering his infamous “Ether Speech.”\u00a0<\/span>The just-publicly <\/span>released document<\/span><\/a> revealed several efforts by top SEC officials to stop Hinman from giving the speech.<\/span><\/p>\n However, former US SEC director for corporation finance, William Hinman, bucked all warnings and delivered the speech.\u00a0<\/span>For instance, the SEC’s head of Trading and Markets (T&M) warned Hinman that the said speech would greatly confuse the market.<\/span><\/p>\n The official also noted that the speech deviated from Howey’s test factors without a law basis. However, despite these pushbacks, Hinman still delivered the speech, declaring Ethereum a non-security.\u00a0<\/span><\/p>\n Hinman buttressed his points by saying that Ether is not a security because it is \u201csufficiently decentralized.\u201d <\/span>The Hinman document also revealed that William Hinman contacted Ethereum\u2019s co-founder Vitalik Buterin while drafting his speech.\u00a0<\/span><\/p>\n Following these speculations, many top industry players and crypto enthusiasts queried the motivation behind Hinman\u2019s speech.<\/span><\/p>\n Attorney Deaton\u2019s CryptoLaw hosted a live Twitter broadcast yesterday debating the Hinman email documents and the issues surrounding it.<\/span><\/p>\n During the podcast, former SEC lawyers Marc Fugel, John Deaton, and Jeremy Hogan extensively analyzed the Hinman issues. <\/span>Hogan noted that Ripple had been cautious in discussing what motivated Hinman to give the speech to avoid accusing anyone.\u00a0<\/span><\/p>\n However, the attorney guessed<\/a> that Ripple\u2019s stance regarding the issue is that Hinman received a bribe from an Ethereum official to give Ether a free pass during the speech. Hogan noted that the emails suggested that Hinman was pushing to give ETH a free pass.\u00a0<\/span><\/p>\n Hogan said: <\/span>“I speculate that Ripple is saying Bill Hinman was somehow paid, and he was paid by the Ethereum Foundation, or someone related to Ethereum to give the speech, give Ethereum a free pass.\u201d<\/p><\/blockquote>\n Hogan noted that the emails suggested that Hinman was pushing to give ETH a free pass.\u00a0<\/span><\/p>\n Attorney Hogan said: <\/span>\u201cWe really see in these emails that right from the get-go, he even named the title of his first email as \u2018the Ether speech.\u2019 Right from the get-go, he is saying that ETH is not a security, and that was the point of him making the speech.\u201d<\/p><\/blockquote>\n Further down his analysis, Hogan said Hinman formulated specific factors to back his stance on why Ethereum<\/a> is not a security, which included decentralization and the number of tokens a promoter holds.<\/span><\/p>\n Hogan believes these factors, which have no basis in law, were an attack on XRP and Ripple, Ethereum\u2019s biggest rival at the time.\u00a0<\/span><\/p>\n He noted that at the time of Hinman\u2019s speech, Ripple<\/a> had great control of XRP Ledger validators, with over half XRP supply (500 million) in existence.<\/span><\/p>\n \n <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"Controversy Around Hinman\u2019s Infamous Speech<\/h2>\n
Hogan’s XRP Remarks and Analysis of Hinman\u2019s Speech<\/h2>\n