Ripple vs SEC: Coinbase Connection to Hinman Emails Sparks Controversy

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Ripple Labs Objects SEC’s Request for Interlocutory Appeal
  • The Ripple vs. SEC legal battle takes an intriguing turn.
  • It now involves speculation surrounding Coinbase’s access to the Hinman emails.
  • Ripple said that Ripple may lack the authority to keep the emails confidential.

The Ripple Labs versus U.S. Securities and Exchange Commission (SEC) legal battle has taken yet another intriguing turn, this time with speculation surrounding the potential involvement of Coinbase, a leading US-based crypto exchange.

The discussion was initiated by a tweet from Mr. Huber, a well-known crypto enthusiast and Twitter user operating under the handle @Leerzeit. Mr. Huber’s tweet pondered the possibility of Coinbase requesting access to the highly coveted “Hinman emails,” provided Ripple agrees not to make them public. 

The Hinman emails, named after William Hinman, former director of the SEC’s Division of Corporation Finance, have become a focal point in the Ripple-SEC lawsuit as they contain crucial information regarding the SEC’s classification of XRP.

However, Mr. Huber doubts that Coinbase would willingly immerse itself in anything remotely connected to the Hinman emails. He hinted at Coinbase’s entanglement in the legal complexities and suggested the exchange was already privy to Hinman’s actions on March 18.

Ripple’s Chief Technology Officer, David Schwartz, responded to Mr. Huber’s tweet to shed light on the matter, though he cautiously mentioned that he is not a lawyer.  Schwartz indicated that Ripple might lack the authority to agree to keep the emails confidential.

He referred to a recent judge’s ruling, emphasizing that the emails were considered judicial documents and that the public’s right of access outweighed any potential counterarguments.

Another Twitter user contributed to the conversation by sharing their interaction with someone believed to be John Deaton, a crypto lawyer associated with the case. The person inquired whether a settlement could include a provision to prevent the release of the emails. Deaton’s supposed response humorously alluded to the unlikelihood of such an outcome, comparing it to the possibility of a comet hitting the Earth.