Expectations for the Ripple lawsuit summary judgment have heightened among XRP community members ahead of essential revelations. The broader crypto community and XRP holders await the unsealing of the Hinman speech documents moved up to June 13.
Considering the building pressure and heightened regulatory uncertainty, the crypto community expects clarification from the doc.
The Hinman Speech Documents
The Hinman speech documents are email drafts and internal messages related to a 2018 speech by former SEC director William Hinman. This document has been a major supporting exhibit for Ripple’s defense against the SEC.
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In the last court hearing, the court moved the unsealing to June 13 following a joint letter for a one-week extension from the previous date of June 6 by Ripple and SEC.
As a result, the community anticipates seeing the content of the infamous Hinman docs. At the time, a lawyer and crypto community member, Fred Rispoli, reacted to the redaction extension.
He said the development was weird, and the parties must have already had detailed discussions on these redactions. Rispoli added that he feels something has changed, and a scramble could be ongoing behind the scenes.
In a recent tweet, Digital Asset Investor, a prominent crypto influencer, reminded his 330,000 followers about the release of the documents. Also, attorney Deaton of CryptoLaw called attention to the Hinman speech’s fifth anniversary on June 14, 2018.
Notably, on June 14, 2018, William Hinman declared that Ethereum is not a security. So, Deaton and Jeremy Hogan, Marc Fagel, and Carl Cecere will stage a discussion at 7:00 PM UTC on June 14, 2023, to debate the documents.
In his tweet, Deaton said former director of trading and markets Brett Redfern warned that the Hinman speech would cause market confusion or more speculations. As such, the lawyer said Hinman should never have delivered the speech after such a warning.
Deaton Explain Implications of Hinman Emails
In the June 11 tweet, pro-XRP attorney John Deaton recalled a tweet where he made speculations about a potential redaction.
Several people have been speculating on the possible content of the speech drafts. However, Deaton believes everyone’s confusion and speculation will clear when the documents become publicly accessible.
The CryptoLaw founder and pro-XRP lawyer reminisced on his previous predictions that the emails would highlight Hinman’s massive conflicts of interest, leading people to ask: “Then why give the speech?”
However, the lawyer added that the email documents would not change the Howey test but would likely highlight the difficulty of applying outdated 1930s and 1940s precedents to modern technology.
Deaton also said the documents could help Coinbase and Ripple in the court of public opinion and maybe influence bipartisan efforts in Congress.
Featured image from Pixabay and chart from TradingView.com