David

April

Security

Status

<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/news/ripple-xrp-news-sec-officials-ignored-xrps-security-status-talks-focused-on-ripples-tech-instead/">Ripple (XRP) News: SEC Officials Ignored XRP’s Security Status Talks, Focused on Ripple’s Tech Instead</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>A recent discovery, courtesy of famous crypto analyst and sleuth Mr. Huber, indicates that officials at the U.S. Securities and Exchange Commission (SEC) may have sidestepped significant concerns regarding XRP’s security status.</p> 
<h2 id="ripples-purgatory-a-meeting-behind-closed-doors" data-name="ripples-purgatory-a-meeting-behind-closed-doors" class="wp-block-heading"><strong>Ripple’s “Purgatory”: A Meeting Behind Closed Doors</strong></h2> 
<p>According to Huber’s findings, in late August 2018, Ripple’s top brass, including CEO Brad Garlinghouse and CTO David Schwartz, found themselves in a meeting with key representatives from the SEC’s Chairman’s Office. The conversation, scheduled to last around 50 minutes, was set to focus on Ripple’s operations and technology.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
   <p lang="en" dir="ltr">Bill Hinman and Jay Clayton didn't want to talk with Ripple about the securities status of xrp, only about Ripples technology and business. That SEC chairman and director were not only bribed to give Ethereum a regulatory monopoly, they also did economic espionage for ConsenSys a… <a href="https://t.co/yGQUTbiWbs" rel="noopener noreferrer nofollow">pic.twitter.com/yGQUTbiWbs</a></p>— Mr. Huber 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f985.png" alt="🦅" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@Leerzeit) <a href="https://twitter.com/Leerzeit/status/1687404543561129985?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 4, 2023</a> 
  </blockquote> 
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div> 
</figure> 
<p>As the meeting progressed, Ripple’s executives did manage to share their insights into the workings of the company and its core technology. Even though the officials seemed attentive and asked occasional questions, something seemed amiss.</p> 
<p>Towards the end of the meeting, Garlinghouse’s subtle mention of XRP’s ambiguous security status met with a swift response. </p> 
<blockquote class="wp-block-quote"> 
 <p>The chairman’s response was clear and immediate: “This is not the place to discuss such matters.”</p> 
</blockquote> 
<p>The conversation was quickly steered back towards Ripple’s business and technology. The session concluded on an encouraging note but left the crucial matter of XRP’s legal status untouched.</p> 
<h2 id="connection-with-ethereum" data-name="connection-with-ethereum" class="wp-block-heading"><strong>Connection with Ethereum</strong></h2> 
<p>Further digging reveals an intriguing connection between the former SEC’s officials and ConsenSys, a prominent client of Jay Clayton’s law firm, and also linked with JPMorgan. In April 2018, a friendly email from William Hinman reached Joseph Lubin at ConsenSys. The email was a warm invitation for a call, perhaps to discuss another meeting, assumed Huber. But what makes this communication interesting?</p> 
<p>In the documents Huber shared, a list of questions targeted at understanding the nuances of Ethereum’s development, its network, and its utility value adds another layer to this unfolding story.&nbsp;</p> 
<p>From the early days of development to the possibility of moving from proof of work to proof of stake, the questions aim to unravel Ethereum’s internal workings. But why were these questions raised, and what was the connection with the meeting with Ripple?</p> 
<p>While the information at hand doesn’t necessarily imply wrongdoing, it certainly shines a spotlight on an area that warrants closer scrutiny. Whether further investigation will uncover more is yet to be seen.</p>

Ripple (XRP) News: SEC Officials Ignored XRP’s Security Status Talks, Focused on Ripple’s Tech Instead

Table of Contents

CoinPedia News

Other articles published on Aug 4, 2023

Users said CertiK's warning was a false alarm, then, the project rugged

3 Best Cryptos to Buy Now: Better Than Cardano ($ADA)

Crypto Enthusiast Analyzes Crypto Narratives’ Influence on Investors and Founders

Comparing Jack Dorsey's Block vs. Elon Musk's PayPal For Q2 2023

Experts Predict Explosive Rally for Optimism (OP) – Here are the Next Resistance Levels

Crypto: Shiba Inu (SHIB) announces major DeFi ambitions

Join our free newsletter for daily crypto updates!