SEC Still Shielding Hinman Docs While Whales Move 275 Million XRP
XRP News: Ripple and US SEC filed their motion to seal several documents linked to the motions for Summary Judgement. However, filings suggest that the commission is still in pursuit of shielding the vital Hinman documents. Meanwhile, crypto whales are still moving millions of XRP tokens.
Can SEC still protect Hinman docs in XRP lawsuit?
Attorney James Filan reported that SEC filed its motions to seal some documents. However, the SEC’s list is still carrying the Hinman Documents. Read More XRP news here
The commission is still arguing that the Hinman emails and documents are privileged even after losing assertions multiple times. The SEC mentioned that it wants to keep the emails from public view otherwise it would be “foreclosed” from making “such argument” in the future.
As per the filing, the commission produced these crucial internal documents after the judge denied the SEC’s objections. The watchdog claimed that the memos were protected by the deliberative process or attorney client privileges.
However, the SEC is still maintaining that the Hinman speech Documents are protected by the earlier mentioned privileges. It added that the clear lack of relevance of these documents to the Summary Judgement motion should be weighed against the impact.
The SEC highlighted that the release of these documents would not affect their ongoing deliberations on a wide variety of issues. These documents reflect internal discussions and deliberations by several SEC officials.
Whale on an XRP buying spree?
As per the data provided by WhaleAlert, Crypto whales have moved around 275 million XRP (approx worth $97 million) in the last 24 hours.
The largest transaction recorded by the trackers has been of moving 150 million XRP tokens. A whale added $52.1 million worth of XRP was moved from Binance to an unknown wallet.
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