Ripple CEO Brad Garlinghouse: Former SEC Official William Hinman Received 'Millions of Dollars' From Law Firms With a 'Vested Interest' in His SpeechRipple CEO Brad Garlinghouse has blasted the enforcement approach of the U.S. Securities and Exchange Commission (SEC) after the release of the Hinman docs, which contain internal discussions that the institution had before the now famous 2018 speech offered by former SEC Division of Corporation Finance Director William Hinman. Garlinghouse stated that while he was a public servant, Hinman “received millions of dollars of payments from his law firm,” part of an alliance with a vested interest in his speech.
Ripple CEO Brad Garlinghouse Blasts Former SEC Official William Hinman’s Actions
Brad Garlinghouse, CEO of cryptocurrency-focused company Ripple, recently released a video where he comments on and criticizes the content of the Hinman docs, a set of documents that show internal discussions of the agency before the speech given in 2018 by William Hinman, a former director of the Division of Corporation Finance of the U.S. Securities and Exchange Commission (SEC).
According to Garlinghouse, the documents, which were finally unsealed after seven court orders and over a hundred million dollars in legal bills, show that “at best, senior officials couldn’t agree on the law, and told Bill Hinman directly he would confuse the public even more about the rules for crypto.” Garlinghouse considered that, at worst, these documents show Hinman “deliberately ignored the law,” stating that:
While he was a public servant, Hinman received millions of dollars of payments from his law firm, which was part of an alliance with others that had a vested interest in this speech.
