Ethereum

Simpson

Empower

when

<p>After a long legal fight, Empower Oversight received a report from the SEC’s Office of Inspector General. <a href="https://empowr.us/wp-content/uploads/2025/04/Case-No.-22-DCF-0028-I-redacted.pdf" target="_blank" rel="noreferrer noopener nofollow">The report</a> investigated whether former SEC official <a href="https://coinpedia.org/news/big-news-secs-mark-uyeda-investigates-bill-hinmans-2018-crypto-speech/" target="_blank" rel="noreferrer noopener">William Hinman</a> had a conflict of interest when he said Ethereum was not a security.&nbsp;</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/EleanorTerrett/status/1910737507156631978 
 </div>
</figure>   
<p>At the time, Hinman was still getting payments from his former law firm, which was linked to <a href="https://coinpedia.org/beginners-guide/what-is-ethereum-the-comprehensive-guide/" target="_blank" rel="noreferrer noopener">Ethereum</a>.</p>   
<h3 class="wp-block-heading" id="h-william-hinman-in-ethereum-related-decisions">William Hinman in Ethereum-related decisions</h3>   
<p>In May 2022, Empower Oversight asked the OIG to investigate Hinman's financial relationship with his former law firm, Simpson Thacher, which represented Ethereum, a major <a href="https://coinpedia.org/beginners-guide/cryptocurrency-guide/" target="_blank" rel="noreferrer noopener">cryptocurrency</a> participant. In a speech in 2018, Hinman had stated that Ethereum was not a security.</p>   
<p>The answer was no. The key point was that he was still being paid by Simpson Thacher at the time. The report also noted that properly disclosed his monetary relationships, and did not personally enrich himself.</p>   
<p>However, Empower Oversight was not satisfied. They argued that the probe was too limited, as it sidestepped broader questions about how the SEC handles conflicts of interest in general and how it decides which crypto companies to target.&nbsp;</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/EleanorTerrett/status/1910737507156631978 
 </div>
</figure>     
<blockquote class="wp-block-quote">
  
 <p>“<em>By narrowly focusing on whether criminal charges should be brought against Hinman, the SEC OIG completely missed the bigger issue here—an erosion of public trust in the agency due to inadequate transparency and an undeniable lack of faith in the integrity of its cryptocurrency enforcement decisions,</em>” <a href="https://empowr.us/empower-oversight-wins-release-of-long-awaited-sec-watchdogs-crypto-conflicts-report/">Foster said.</a></p> 
</blockquote>   
<p>The OIG's December 9, 2024, report answered one very narrow question: had Hinman violated any criminal conflict-of-interest law?&nbsp;</p>   
<p>The response was no. He reported they had to struggle to publish fundamentals. Despite cooperating with the SEC in recovering some of their legal expenses, Empower Oversight continues to demand more openness and accountability.</p>

SEC Clears William Hinman in Ethereum Conflict Probe, But Critics Remain Unconvinced

Table of Contents

CoinPedia News

Other articles published on Apr 12, 2025

U.S. Excludes Smartphones, Computers from New Tariffs

Qubetics Leads Top Cryptos to Hold for Short Term—Monero’s Privacy and ZIGnaly’s Copy-Trading Gai...

BlackRock Reports $84B Q1 Inflows as ETFs and Tech Drive Double-Digit Growth

How to mine Bitcoin at home in 2025

Bitcoin and Nasdaq Correlation Triggers Market Shake-Up

Netflix Tests AI-Powered Search for Improved User Experience

Join our free newsletter for daily crypto updates!