XRP surges as judge orders SEC to release Hinman files
In the latest news on the court case between Crypto firm Ripple and the Securities and Exchange Commission (SEC), a judge has denied the SEC’s appeal to prevent the release of documents tied to former director William Hinman’s Ethereum speech, in which he said Ethereum wasn’t a security. The 2018 speech and related emails, text messages, and reports are pivotal to Ripple’s legal case. The firm argues the documents show its native token XRP was targeted by the SEC as an unregistered security instead of Ethereum, due to Hinman’s favoritism. Indeed, a whistleblower claimed that during Hinman’s tenure at the SEC, he received millions of dollars in retirement benefits from a law firm with ties to the Ethereum Alliance. The SEC attempted to seal the documents. The commission argued that the documents and Hinman’s speech had no connection to the legal battle with Ripple – Hinman was a director, but not the chair. This argument was denied in January by magistrate judge Sarah Netburn...