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Here at Extreme Investor Network, we pride ourselves on providing unique and valuable information that you won’t find anywhere else. Today, we’re diving into the ongoing investigation into SEC conflicts of interest that is making waves in the financial world.
The Office of Inspector General (OIG) is currently investigating reported conflicts of interest within the SEC, specifically regarding cryptocurrency. This investigation, which was brought to light by US government watchdog Empower Oversight, has been closely following the actions of former SEC Director William Hinman, a key player in the Ripple case.
In 2018, Hinman made headlines when he declared that bitcoin (BTC) and ethereum (ETH) were not securities. However, Empower Oversight has raised concerns about potential bias towards Ripple Labs and XRP due to financial ties between Hinman and his former employer, the law firm Simpson Thacher.
Recent court documents from the SEC vs. Ripple case have shed light on Hinman’s continued interactions with Simpson Thacher lawyers, despite warnings from the SEC Ethics Division. The outcome of the OIG investigation could have significant implications for the SEC’s appeal plans in the Ripple case, with the appeal window closing on October 7.
What Does This Mean for SEC Appeal Plans and XRP Price Trends?
As investors, it’s important to pay attention to how the SEC’s appeal decisions could impact the price trends of XRP. If the SEC appeals the Programmatic Sales of XRP ruling, we may see XRP drop towards $0.40. On the other hand, if the SEC chooses not to appeal, XRP could potentially reach $1.00, reflecting the market’s response to the previous ruling.
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