- Fox Journalist Eleanor Terrett said there are conflicts of interest in the SEC over the XRP lawsuit.
- Source of Terrett said Bill Hinman pushed the case, despite the SEC and Ripple being willing to settle.
- Atty. John Deaton was positive that they’ll get an investigation after midterms.
The SEC vs Ripple’s XRP lawsuit once again built a commotion on Twitter, as Journalist Eleanor Terrett of Fox Business said there are “definite conflicts of interest” and a need to put an investigation over SEC members then and now.
The commotion began after Bill Hinman, former director of the SEC’s Division of Corporation Finance, allegedly had a meeting with Ripple on December 10, even after he was no longer an SEC employee.
On Tuesday, John Deaton, an attorney actively participating in the case, said Hinman’s last day was on December 4, 2020. This means that Hinman was a private citizen working for a law firm at the time.
In an interview, Terrett said that according to her source, when the Ripple case was brought in December 2020, the SEC’s chair Jay Clayton have been in favor of settling, but Hinman said they were going to carry on with the case.
Furthermore, Eleanor said her most significant takeaway from this whole thing is that Hinman’s calendar confirms some of the timeline laid out by the XRP community and Deaton was correct. In addition, she said the SEC was willing to make time for their friends at Consensys and Ethereum to provide clarity on the new policy, while others who said they went to the SEC during that time period weren’t given the same clarity.
At the time, Ripple was willing to settle with the SEC without them declaring that future XRP sales would not be considered securities, and clarity if the SEC would go after other XRP sellers, which he describe as not the best deal for Ripple. Deaton said if the source was correct, then there will be more evidence that “the conflicts were much more than an appearance of impropriety but actual impropriety.”
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