Ripple vs SEC: Empower Oversight Supports to Unseal Hinman Docs

Recently, Empower Oversight showed its support for the Motion to unseal Hinman Documents.
The Motion to intervene in the Ripple vs SEC lawsuit is proposed by Forbes journalist Dr. Roslyn Layton.

The recent update in the lawsuit between Ripple Labs and the Securities Exchange Commission (SEC) seeking public access to the Hinman speech documents. As Empower Oversight Whistleblowers & Research (EMPOWR) showed its support for the motion.

Empower Oversight is a nonprofit, nonpartisan organization. It works to improve independent oversight of government and corporate misconduct. Mission of the organization is to help insiders document and report corruption to the appropriate authorities.

How Empower Oversight is supporting the Motion?

According to a recent press release by Empower Oversight, “Jason Foster, Founder and President of Empower Oversight, issued a statement after Roslyn Layton filed a motion with Judge Analisa Torres in the Southern District of New York to gain access to the SEC documents pertaining to a controversial speech on cryptocurrencies that former SEC executive William Hinman delivered in 2018.”

Foster said “the SEC has consistently stonewalled any attempts from public interest transparency organizations, including Empower Oversight, to shine a light on conflicts of interest and ethical questions at the agency. The public deserves answers from the SEC as to what exactly the agency knew about Hinman’s speech and when they knew it.”

Additionally, in December 2022, Empower Oversight filed a records request with the SEC as an effort to end the SEC’s delays in refusing to conduct full searches for records of communications using a list of names that the SEC asked Empower Oversight to provide, and then promptly ignored, a year ago, as mentioned in the press release.

Prior to that, in October, the organization also “filed its opposition to the SEC’s motion for summary judgment in the ongoing FOIA lawsuit over documents related to conflicts of interest and selective enforcement in cryptocurrency cases.”

All these happenings “got started with an August 2021 request from Empower Oversight that is still the subject of ongoing FOIA lawsuit against the SEC.”

Meanwhile, in a new development in Dr. Layton’s motion to intervene, pro-XRP attorney James Filan announced in a tweet on February 22 that an amended motion to intervene had been filed.

Filan added in his tweet that “Dr. Roslyn Layton has filed an Amended Motion to Intervene to petition the Court for access to the Hinman Speech Documents. The original request of Dr. Layton suggested that the SEC had offered the Hinman Speech Documents in support of its own summary judgment motion, when that was not the case.”

Furthermore, XRP holds the 6th position among the top 10 most traded cryptocurrency by market cap. At press time, the XRP price held at $0.3776, with a decline of 3.04% in the last 24 hours.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing