Here's how Ripple's case could have been more open since its start.
He does, however, think that charging CEO Brad Garlinghouse was a mistake on the part of the SEC. Jay Clayton, in particular, intended to bring a “non-fraud” case against executives on an individual basis.
He contends that Jay Clayton is a crucial witness who needs to give testimony in court. Following the Hinman lecture, Garlinghouse told Clayton that his company is “living in purgatory.” Clayton and Hinman did not reply that XRP was a security, though. However, time, money, and effort that could have been spared in litigation and proceedings if Clayton and Hinman had provided clarification would have been better spent spreading the use of crypto. The SEC still fights to reverse Judge Torres’ finding that XRP is not a security.
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