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Ripple v. SEC: Law Veteran Breaks Down Anti-XRP Conspiracy Theory

Tue, 06/20/2023 - 14:23
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Gamza Khanzadaev
Legal expert Marc Fagel debunks anti-XRP and pro-Ethereum conspiracy in Ripple v. SEC case
Ripple v. SEC: Law Veteran Breaks Down Anti-XRP Conspiracy Theory
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A Twitter discussion has ignited a new wave of interest surrounding the Ripple v. SEC case, as connections between Nate Hinman, son of a former SEC functionary, and Ethereum founder Vitalik Buterin's company come to light. The conspiracy theory, which previously targeted XRP and implicated regulators and Ethereum-associated organizations, has taken an intriguing turn.

Ex-Ripple Executive Has No Doubt in Ethereum (ETH) and Regulator Conspiracy

Legal expert Marc Fagel, a former SEC functionary, was sought out for his perspective on the matter. When asked about Nate Hinman's family conversations, Fagel declined to engage in what he deemed as intrusive speculation.

The former attorney, however, made a clear distinction between Hinman's alleged conflicts and questionable conduct, and the legal grounds for the SEC's enforcement action against Ripple. He cautioned against conflating the two and emphasized the need to differentiate the broader organization's work from individual actions.

No conspiracy

XRP community members continued to argue that Hinman's actions could have influenced the investigation and litigation process. Fagel, dismissing such claims, pointed out that the enforcement attorneys and the commissioners responsible for pursuing the case were not Hinman's subordinates. He characterized the XRP community's assertions as lazy excuse-making.

Top Ripple Lawyer Suggests SEC Employee Bias

Regarding the possibility of the SEC investigating Ethereum, a law veteran acknowledged that there might have been a similar uproar among Ethereum supporters. Nonetheless, he asserted that this hypothetical scenario would have no bearing on the legal merits of the Enforcement Division's lawsuit against Ripple.

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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.