{"id":55299,"date":"2021-12-27T19:56:11","date_gmt":"2021-12-27T17:56:11","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=55299"},"modified":"2025-09-04T00:39:14","modified_gmt":"2025-09-03T21:39:14","slug":"ripple-supporter-accuses-sec-of-bias-against-xrp","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ripple-supporter-accuses-sec-of-bias-against-xrp\/","title":{"rendered":"Ripple supporter accuses SEC of bias against XRP"},"content":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) showed greater leniency toward Ethereum than toward Ripple&#8217;s XRP token. This conclusion was reached by the Deaton Law Firm, led by founder John Deaton.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">HOW Web3 &#038; THE <a href=\"https:\/\/twitter.com\/hashtag\/ETHER?src=hash&#038;ref_src=twsrc%5Etfw\">#ETHER<\/a> FREE PASS WAS BORN:<\/p>\n<p>Recently, <a href=\"https:\/\/twitter.com\/jack?ref_src=twsrc%5Etfw\">@jack<\/a> was blocked by <a href=\"https:\/\/twitter.com\/pmarca?ref_src=twsrc%5Etfw\">@pmarca<\/a> over Jack\u2019s observation regarding the inherent interests of VCs related to Web3. What is Web3?<\/p>\n<p>\u201cWeb3, much like other buzzwords you hear \u2014 Bitcoin, NFTs etc. \u2014 is based on blockchain technology.\u201d<\/p>\n<p>\u2014 John E Deaton (@JohnEDeaton1) <a href=\"https:\/\/twitter.com\/JohnEDeaton1\/status\/1475477209267773444?ref_src=twsrc%5Etfw\">December 27, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On December 27, Deaton posted a thread outlining a number of facts in support of his position. According to him, on December 13, 2017, then-head of the agency&#8217;s corporate finance division William Hinman and ConsenSys CEO Joseph Lubin held a meeting that \u201cdid not concern Ethereum&#8217;s ICO,\u201d but was \u201cthe beginning of a very mutually beneficial alliance\u201d.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The initial meeting between Hinman &#038; Lubin occurred at the height of the ICO craze, following <a href=\"https:\/\/twitter.com\/hashtag\/Ether?src=hash&#038;ref_src=twsrc%5Etfw\">#Ether<\/a>&#8216;s successful crowd-sale model. But Hinman and the Lubin \/ Consensys meeting wasn\u2019t about <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&#038;ref_src=twsrc%5Etfw\">#Ethereum<\/a>&#8216;s ICO. Instead, it was the beginning of a very mutually beneficial \u201calliance\u201d.<\/p>\n<p>\u2014 John E Deaton (@JohnEDeaton1) <a href=\"https:\/\/twitter.com\/JohnEDeaton1\/status\/1475477213990510603?ref_src=twsrc%5Etfw\">December 27, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cOn January 25, 2018, SEC Chairman Jay Clayton met with Chris Dixon of Andreessen Horowitz (a16z), tasked him with assembling industry players and presenting a memo on how the regulator should act with digital assets,\u201d wrote the founder of the Deaton Law Firm.<\/p>\n<\/blockquote>\n<p>On December 27, Deaton posted a thread outlining a number of facts in support of his position. According to him, on December 13, 2017, then-head of the agency&#8217;s corporate finance division William Hinman and ConsenSys CEO Joseph Lubin held a meeting that \u201cdid not concern Ethereum&#8217;s ICO,\u201d but was \u201cthe beginning of a very mutually beneficial alliance\u201d.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Certainly, the second largest crypto asset would be represented in this industry group. But according to <a href=\"https:\/\/twitter.com\/CGasparino?ref_src=twsrc%5Etfw\">@CGasparino<\/a> and <a href=\"https:\/\/twitter.com\/EleanorTerrett?ref_src=twsrc%5Etfw\">@EleanorTerrett<\/a>\u2019s reporting, <a href=\"https:\/\/twitter.com\/Ripple?ref_src=twsrc%5Etfw\">@Ripple<\/a> was not invited by Dixon to be a part of this industry group. We know Lowell Ness was the lead attorney writing the memo\ud83d\udcdd<\/p>\n<p>\u2014 John E Deaton (@JohnEDeaton1) <a href=\"https:\/\/twitter.com\/JohnEDeaton1\/status\/1475477222622433284?ref_src=twsrc%5Etfw\">December 27, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to Deaton, it included representatives of the crypto industry who were, to some extent, tied to the Ethereum ecosystem. The lawyer also reiterated the previously stated claim that <a href=\"https:\/\/u1f987.com\/en\/news\/garlinghouse-links-ethereums-success-to-secs-favorable-stance\">Hinman received $15 million from Simpson Thacher<\/a> \u2014 its leaders sat on the board of the Enterprise Ethereum Alliance. ConsenSys&#8217;s interests, according to him, were represented by the Clayton-linked law firm Sullivan &#038; Cromwell.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Sullivan Cromwell brokered the deal of Consensys buying JP Morgan\u2019s Quorum \u2014 a direct competitor of Ripple. The Quorum \/JP Morgan Coin deal was announced 4 months before the lawsuit against Ripple and XRP was filed \u2014 as most senior SEC officials behind the lawsuit left the SEC.<\/p>\n<p>\u2014 John E Deaton (@JohnEDeaton1) <a href=\"https:\/\/twitter.com\/JohnEDeaton1\/status\/1475477248748752898?ref_src=twsrc%5Etfw\">December 27, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cSullivan &#038; Cromwell acted as broker in the <a href=\"https:\/\/u1f987.com\/en\/news\/consensys-acquires-jpmorgans-quorum-blockchain-platform\">deal<\/a> of ConsenSys&#8217;s purchase of Quorum [JPMorgan&#8217;s blockchain platform] \u2014 a direct competitor to Ripple,\u201d Deaton noted.<\/p>\n<\/blockquote>\n<p>Hinman, according to the Deaton Law Firm, allegedly became a partner with Dixon in a $2.2 billion crypto fund. The fund of that size was launched by a16z in June 2021.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We learned that Hinman\u2019s Ether Free Pass Speech closely followed the Lowell Ness Perkins Coie memo \ud83d\udcdd. And after collecting $15m from Simpson Thacher, Hinman became a partner with Chris Dixon at Andreesen\u2019s $2.2B Crypto Fund which is heavily invested in <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&#038;ref_src=twsrc%5Etfw\">#BTC<\/a> and <a href=\"https:\/\/twitter.com\/hashtag\/Ether?src=hash&#038;ref_src=twsrc%5Etfw\">#Ether<\/a>.<\/p>\n<p>\u2014 John E Deaton (@JohnEDeaton1) <a href=\"https:\/\/twitter.com\/JohnEDeaton1\/status\/1475477250812391431?ref_src=twsrc%5Etfw\">December 27, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier, Fox Business published a <a href=\"https:\/\/u1f987.com\/en\/news\/media-point-to-potential-conflicts-of-interest-in-sec-case-against-ripple\">major investigation<\/a> into the SEC&#8217;s case against Ripple. Journalists concluded that the officials behind the filing could have been affiliated with Ethereum.<\/p>\n<p>In August, Ripple <a href=\"https:\/\/u1f987.com\/en\/news\/former-sec-official-warned-ripple-that-xrp-could-be-deemed-a-security\">managed to secure Hinman&#8217;s appearance in court <\/a> to testify, despite the regulator&#8217;s <a href=\"https:\/\/u1f987.com\/en\/news\/ripple-wins-subpoena-for-former-sec-official-to-testify\">attempts<\/a> to dismiss this motion.<\/p>\n<p>Brad Garlinghouse, the head of the fintech company, later described Ethereum&#8217;s success as the result of the SEC&#8217;s favorable treatment.<\/p>\n<p>Earlier in December, Empower Oversight <a href=\"https:\/\/u1f987.com\/en\/news\/lawsuit-alleges-sec-conflicts-of-interest-linked-to-former-officials-and-ethereum\">demanded that the Commission disclose documents<\/a> concerning potential conflicts of interest in the actions of former senior officials.<\/p>\n<p>Follow ForkLog news on Twitter!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) showed greater leniency toward Ethereum than toward Ripple&#8217;s XRP token. This conclusion was reached by the Deaton Law Firm, led by founder John Deaton.<\/p>\n","protected":false},"author":1,"featured_media":55300,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[112,128],"class_list":["post-55299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ripple","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"31","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/55299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=55299"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/55299\/revisions"}],"predecessor-version":[{"id":55301,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/55299\/revisions\/55301"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/55300"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=55299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=55299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=55299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}