U.S. judge rejects SEC's motion to seal Hinman documents, Ripple wins in court

ChainCatcher News: The motion to seal the controversial Hinman speech documents proposed by the U.S. Securities and Exchange Commission (SEC) has been denied, a move seen as a victory for Ripple and the crypto community. Additionally, the court also dismissed certain motions to seal related to Ripple, including references linking Ripple's revenue to XRP sales and compensation amounts provided to trading platforms. The price of XRP surged by about 3.2% due to this news, currently trading at $0.44.

The SEC submitted the motion to seal the documents on December 22, 2022, and U.S. District Court Judge Analisa Torres ruled that these documents are "judicial documents" that must be presumed to be accessible to the public.

The Hinman speech documents refer to a speech given by former SEC Director of the Division of Corporation Finance William Hinman at the Yahoo Finance All Markets Summit in June 2018, where he stated that Ethereum is not a security. Ripple believes this speech is key evidence in its ongoing legal battle with the SEC, which alleges that Ripple's XRP sales violate U.S. securities laws. (Cointelegraph)