According to Ripple CEO Brad Garlinghouse, there are significant lessons to be gained from the upcoming release of the infamous “Hinman paperwork.” While being careful not to reveal too much, Garlinghouse made the implication that the documents might contain crucial information that would have a significant impact on Ripple’s future.
The disputed documents include contact between William Hinman, a former director of corporate finance at the Securities and Exchange Commission of the United States (SEC), and other business insiders. The material mostly relates to the work done in advance of a lecture Hinman gave at the Yahoo Finance Summit in 2018 in which he referred to Bitcoin and Ethereum as commodities rather than securities.
As the subject of an SEC litigation, Ripple has been attempting to get these documents in the belief that they will provide crucial context for the company’s position on cryptocurrency classifications.
The XRP group is quite tense due to the impending launch of those documents. It is widely considered that the Hinman documents could have a significant impact on Ripple’s ongoing lawsuit against the SEC and will undoubtedly have an impact on more general crypto insurance coverage. The right to depose Hinman has been granted to Ripple’s authorized team, necessitating that he delivers a statement regarding his 2018 speech and the subsequent paperwork.
This expansion took place following many court judgments requiring the SEC to make the papers public.
Prior to the release of the Hinman documents, XRP supporter John Deaton conjectured that they would reveal potential conflicts of interest, casting doubt on the reasons behind Hinman’s 2018 speech.
