The global crypto market cap is $ with a 24-hour volume of $. The price of Bitcoin is $19,057.73 and BTC market dominance is %. The price of Ethereum is $1,279.86 and ETH market dominance is %. The best performing cryptoasset sector is Crowdfunding, which gained 10%.
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Ripple’s community argue that the allegations against former SEC Director William Hinman matter significantly and are based on facts.
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Crypto influencer Ben Armstrong (BitBoy Crypto) alleged that former SEC Director William Hinman accepted bribes to declare Ethereum (ETH) a commodity in an Oct. 9 tweet.
Gotta say when #ETHGate dropped I was about at the same place @IOHK_Charles is. He makes many valid points in thread.
However, William Hinman certainly accepted bribes. It’s CLEAR.
My 3 biggest holdings are $XRP, $ADA, & $ETH and I refuse to take sides. They all win.
— Ben Armstrong (@Bitboy_Crypto) October 9, 2022
Armstrong made his statement in reaction to Cardano’s (ADA) founder Charles Hoskinson’s thoughts on the issue of corruption among SEC officials.
According to Hoskinson, Ripple’s lawyers should be arguing that an independent and decentralized token like XRP shouldn’t be declared security instead of implying that the SEC gave ETH a free pass because of corruption.
Analyzing the allegations of corruption seems to imply that Ethereum should also be sued by the SEC but wasn't because of relationships. But how does this in any way solve the larger issue of cryptocurrencies being forced into a framework that makes no sense? (9/16)
— Charles Hoskinson (@IOHK_Charles) October 8, 2022
Ripple’s community had suggested that SEC’s former director William Hinman accepted bribes from firms with a financial interest in ETH. According to them, this was why the former director declared that Bitcoin (BTC) and Ethereum were not securities in a 2018 speech.
Meanwhile, some within the XRP community did not agree with Hoskinson’s views, arguing that his description of the allegations as a conspiracy theory derailed the case.
Pro-XRP lawyer John Deaton insists that allegations against Hinman matter significantly and are based on facts, not conspiracy.
BitBoy stated that he believes Hoskinson has valid points. However, he declared:
“William Hinman certainly accepted bribes. It’s CLEAR.”
U.S. SEC has refused to release the controversial Hinman’s 2018 speech, arguing that the speech is irrelevant to the case.
U.S. District Judge Analise Torres recently ordered the commission to release the speech to Ripple — the second time a judge ordered the SEC to hand over the documents.
Ripple recently criticized the SEC for opposing the amicus briefs filed by two firms using its blockchain technology. According to the crypto firm, the filings were meant to aid the court.
Hoskinson and Ripple’s co-founder calls for regulation
Hoskinson further reiterated his opinion, saying, “the entire XRP affair shouldn’t have happened.”
I agree with @IOHK_Charles on the larger point at hand – there is no regulatory clarity on how to classify and use crypto in the US, which is why the SEC is using regulation by enforcement to bring all crypto under their remit. This affects all of us.
— Chris Larsen (@chrislarsensf) October 9, 2022
Ripple co-founder Chris Larsen agreed that the more critical issue is the lack of regulatory clarity on the classification and use of crypto.
He further commended Hoskinson’s work on developing a code for Proof of Useful Work, an attempt to make Bitcoin carbon-negative.
Oluwapelumi is a believer in the transformative power Bitcoin and the blockchain industry holds.
Directly from this Widget: the top CEXs + DEXs aggregated through Orion. No account, global access.
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Bitcoin is a consensus network that enables a new payment system and completely digital money. Learn more
Ethereum is the community-run technology powering the cryptocurrency ether (ETH) and thousands of decentralized applications. Learn More
Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source. Learn More
The XRP Ledger is a decentralized cryptographic ledger powered by a network of peer-to-peer servers. Learn More
Charles Hoskinson is a Colorado-based technology entrepreneur, mathematician, and blockchain enthusiast. Learn More
Benjamin Armstrong, popularly known as “Bitboy” is a YouTuber, podcaster, cryptocurrency enthusiast, and creator of BitBoyCrypto dot com. Learn More
Chris Larsen is Executive Chairman of Ripple’s board of directors and former CEO and co-founder of Ripple. Learn More
Ripple is a US-based technology company which develops the Ripple payment protocol and exchange network using XRP, the digital asset native to the XRP Ledger. Learn More
Ripple’s community argue that the allegations against former SEC Director William Hinman matter significantly and are based on facts.
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