Main navigation

Ripple v. SEC: Chief Lawyer Reacts to Corruption Rumors

Tue, 08/08/2023 - 10:26
article image
Gamza Khanzadaev
Ripple's Stuart Alderoty reacts to SEC corruption scandal and investigation on Hinman
Ripple v. SEC: Chief Lawyer Reacts to Corruption Rumors
Cover image via
Read U.TODAY on
Google News

In the midst of the ongoing legal clash between Ripple and the U.S. Securities and Exchange Commission (SEC), Stuart Alderoty, the crypto company's chief legal officer, has voiced his concerns regarding alleged corruption involving a former high-ranking SEC official.

Cardano Founder Ends Speculation on Anti-XRP Conspiracy Involvement

Alderoty's remarks come in response to claims made by John Reed Stark, a former SEC official known for his critical stance on cryptocurrencies. Stark suggested the need for a comprehensive investigation into the actions of Bill Hinman, a former SEC commissioner whose private correspondence has come under scrutiny. These emails have been cited as crucial evidence in the ongoing legal battle between Ripple and the SEC.

The emails in question reportedly contain exchanges between Hinman and his colleagues, notably discussing his notable speech where he contended that Ethereum should not be classified as a security. These exchanges have raised suspicions of potential bias and favorable treatment toward Ethereum, which Ripple's legal team argues might have unfairly disadvantaged other cryptocurrencies, including XRP.

Beyond Ripple

Alderoty's opinion implies that the issue goes beyond Ripple's specific case and underscores the importance of maintaining the integrity of regulatory bodies. The call for a thorough investigation aims to address concerns about potential conflicts of interest and impropriety on the part of government officials.

Ripple and XRP Saga to Be Used as Key Ammo in Terra Luna Trial in Korea

As the litigation between the SEC and Ripple continues, the possible investigation into Hinman's actions and allegations of corruption within the regulator certainly add a layer of complexity to an already intricate legal battle.

article image
About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.