JAKARTA - The much-awaited Hinman document is expected to be released by the SEC soon, and Ripple believes the document can help their legal case. The document is expected to prove that regulators have behaved unfairly in treating Ripple and XRP.
Brad Garlinghouse, CEO of Ripple, used Twitter to express his disappointment at SEC behavior. However, the comments were backed by Elon Musk, who was trusted by many as an act of support for Ripple.
In a statement on Twitter, Garlinghouse confirmed that "when the truth finally comes to light, their embarrassing behavior here will surprise you." Ripple believes that the SEC has been second in handling this case.
Hinman's document can prove that William Hinman, a former SEC official, officially states that Ethereum is not a security. This will show the injustice of regulators in treating Ripple.
Previously, the SEC refused to provide the document, claiming the privileges of lawyers. However, after six court orders and 18 months, Hinman's documents were finally released. If the document supports Ripple's claim, then Hinman will be guilty of the false oath in court, and Ripple will probably win this case.
Elon Musk's comments are seen as support for Ripple and XRP. Previously, Musk had a lot of problems with the SEC, and currently, he is seeking legal reasons to overturn a decision requiring him to get permission from his lawyer before posting about Tesla on Twitter. The decision is part of a decision following securities fraud allegations against Musk and Tesla in 2018.
Musk's comments also sparked excitement among pro-XRPs. They believe that the comments suggest that Musk agrees with Ripple's opinion and will help win the case. However, there is no certainty about how Musk's comments could help Ripple in this case.
The Ripple-SEC case has been a heated debate among the blockchain community and finance. Ripple and XRP are important companies in the blockchain industry, and their win in this case could have a significant impact on the industry. Now, all eyes are on Hinman documents and further developments in this case.
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