The XRP community is currently abuzz with the release of the long-awaited Hinman report by the US SEC amidst the nearing XRP lawsuit settlement. However, the report has sparked controversy and disappointment among XRP enthusiasts, with concerns raised about its inconsistencies and lack of clarity. Prominent experts like John Deaton and MetaLawMan have pointed out flaws in the report, casting doubts on its credibility and implications for the ongoing XRP lawsuit.
John Deaton, a well-known XRP lawyer, has expressed disappointment with the findings of the Inspector General’s report on Bill Hinman’s controversial Ethereum speech. According to Deaton, the report’s claim that owning ETH wouldn’t constitute a conflict of interest contradicts SEC policies that prohibit token ownership to prevent conflicts. He has highlighted multiple points to question the report’s credibility, including Hinman’s meetings with partners at Simpson Thacher, a potential conflict of interest.
In the XRP lawsuit, Bill Hinman had claimed that his speech deeming Ethereum as a non-security was his personal opinion. However, the IG report stated that it was collaborative, raising further questions about the transparency and integrity of the investigation. Experts like MetaLawMan have criticized the narrow scope of the investigation, pointing out that it focused only on criminal laws rather than thorough examination of potential conflicts of interest or ethics violations.
Despite the recent development of the US SEC dropping its appeal in the XRP lawsuit and Ripple withdrawing its cross-appeal, the ultimate settlement of the case remains uncertain. The inconsistencies in the Hinman report have further complicated the Ripple lawsuit, leading to various interpretations and speculations about its outcome. Many believe that an imminent settlement is likely in the XRP case, but the lingering doubts and controversies surrounding the report have added an element of unpredictability to the situation.
