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Ripple's Chief Legal Officer Calls for Investigation into Motivations Behind SEC Official's Infamous Speech on Ether

Stuart Alderoty, the chief legal officer of Ripple, has called for an investigation into the motivations behind former SEC official William Hinman's speech in 2018, which claimed that Ether was not a security. Alderoty's demand for an investigation came after the release of the Hinman documents, which revealed that Hinman's speech was delivered despite warnings from other SEC divisions.

Alderoty argued that the speech ended up sending confusing messages to the cryptocurrency industry regarding what constitutes a security and that unelected bureaucrats should only apply the law rather than trying to create new ones. Ripple CEO Brad Garlinghouse also criticized the decision to go ahead with the speech despite "so much pushback."

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