New petition asks SEC chair nominee Gary Gensler to drop Ripple lawsuit

By CointelegraphHelen Partz4 days ago

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The Ripple community has launched a new petition to stop the war on XRP.

Crypto & Policy founder Thomas Hodge has started a Change.org petition directed atSecurities and Exchange Commission chair nominee Gary Gensler, asking him to end the SEC's lawsuit against Ripple once he's confirmed as chairman of the commission.

Announcing the news Wednesday, Crypto & Policy called on Gensler to investigate the potential motives of former SEC chair Jay Clayton and his SEC Director of Corporate Finance William Hinman for favoring Bitcoin (BTC) and Ether (ETH) while harming XRP. The petition alleges that Clayton and Hinman could have had financial interests in Bitcoin and Ether:

While Clayton and Hinman were in office, they were asked if Bitcoin and Ether were securities. They said very clearly, on the record: no they are not securities so keep trading them. They both took money from companies with direct or clear indirect interest in those public statements.

Hodge further alleged that Hinman received millions of dollars in payments from the law firm of Simpson Thacher, which is a member of the Ethereum Enterprise Alliance. The petition claims that Hinman collected checks from the firm while the firm earned fees supporting the initial public offering of Chinese crypto mining giant Canaan.

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