SEC’s XRP Ruling Ignored? John Deaton Exposes Bill Hinman’s Ethereum Bias

• John Deaton claims Bill Hinman’s 2018 Ethereum speech unfairly benefited ETH while XRP remained under SEC scrutiny.
• Documents reveal SEC ethics warnings were ignored as Hinman met with Ethereum-linked partners before declaring ETH a non-security.
• XRP continues to thrive despite regulatory challenges, ranking fourth globally with a 366% annual growth and potential for U.S. adoption.

The attorney John Deaton who supports XRP holders during the SEC v. Ripple Labs case spoke out against former SEC official Bill Hinman because of his position on XRP. According to Deaton Hinman disregarded the court decision showing that XRP secondary market retail trades do not qualify as securities.

During the Ondo Summit, the previous decisions of Hinman received attention especially his speech on June 14, 2018, which declared Bitcoin and Ethereum outside the realm of securities. Deaton pointed out that this regulatory decision created an unjust advantage for Ethereum which was not experienced by XRP due to censorship. Hinman’s connection to entities with deep ties to Ethereum raises concerns about possible conflicts of interest.

SEC’s Selective Comments on Digital Assets

Deaton pointed out inconsistencies in the SEC’s approach, noting that while officials refused to discuss specific cryptocurrencies, Hinman made an exception for Ethereum. SEC ethics officials had reportedly warned Hinman about potential conflicts due to his financial ties to firms with interests in Ethereum. Despite these warnings, Hinman proceeded with his speech, benefitting Ethereum miners and investors while leaving XRP in regulatory uncertainty.

Deaton referenced documents showing that Hinman met with his former business partners despite SEC ethics warnings. These partners had dealings with the SEC, including filing for an IPO for Canaan, a leading Ethereum mining equipment manufacturer, just weeks before Hinman’s speech. The timing of these interactions raised concerns about potential favoritism.

Legal Battles Over SEC Transparency

The controversy surrounding Hinman’s speech intensified as independent watchdog group EMPOWER sued the SEC, demanding the release of an internal report on Hinman’s conflicts of interest. SEC lawyers also resisted Hinman’s deposition in the Ripple case, reinforcing concerns that key information about the agency’s decision-making process remains undisclosed.

The market performance of XRP demonstrates solid results even with regulatory obstacles in its way. The cryptocurrency takes the position of the fourth-biggest digital asset after experiencing a 366% growth during the past year Additionally, discussions are ongoing about its potential inclusion in the U.S. national digital asset stockpile. XRP’s ecosystem could also benefit from the expansion of the RLUSD stablecoin, enhancing liquidity and driving further adoption.

The SEC’s recent stance on closing non-fraud crypto lawsuits could lead to the dismissal of the Ripple case, potentially unlocking new growth opportunities for XRP. With its expanding use cases and legal clarity, XRP remains a key asset in the evolving digital economy.