SEC's Hinman: Innocent or Just Good at Covering His Tracks? 🤔

In a most curious turn of events, a freshly unveiled, albeit heavily redacted report from the esteemed Office of Inspector General has declared Bill Hinman, the erstwhile luminary of the SEC, free from any wrongdoing. This, despite the swirling accusations of conflicts of interest that have dogged him since his now-infamous 2018 Ethereum oration. Ah, the irony! 🎭

It appears that this internal review was birthed from a FOIA push by the ever-watchful Empower Oversight, a group that seems to have taken it upon themselves to scrutinize Hinman’s ties to his former law firm, Simpson Thacher, which, as fate would have it, is rather cozy with the Ethereum ecosystem. Critics, with their magnifying glasses in hand, have suggested that such connections might have tainted his public proclamation that Ether is not a security. Yet, the report, in its infinite wisdom, concluded that Hinman had adhered to ethics protocols, disclosed his financial interests, and followed the sage guidance of the SEC’s ethics counsel. How noble! 🧐

However, the release of this report has done little to quell the tempest. Detractors of the agency—particularly those fervently championing the so-called “ETH Gate” narrative—are quick to point out the red flags that the report so conveniently glosses over. Emails have surfaced, revealing that Hinman himself crafted and championed the Ethereum speech, brushing aside the legal team’s hesitations as if they were mere autumn leaves. Empower Oversight has boldly claimed that this undermines the very notion of a neutral, rules-based approach within the agency. Oh, the audacity! 😏

As if the plot needed thickening, the report also acknowledged that even if Hinman had direct exposure to Ether, it would not constitute a legal conflict of interest. This assertion has ignited a veritable firestorm online, with legal transparency advocates, including the ever-vocal CryptoLaw and journalist Eleanor Terrett, lambasting the logic. They question how such financial entanglements could possibly be deemed irrelevant when they might sway public policy. A conundrum indeed! 🔥

This controversy has resurfaced amidst a backdrop of broader change. Paul Atkins has just been confirmed as the new SEC Chair, taking the reins from Gary Gensler, and the clamor for reform regarding crypto regulation and ethics enforcement grows ever louder. While Hinman may have been cleared on paper, the court of public opinion remains in session, and the jury is still out. 🍿

2025-04-12 09:03

SEC’s Hinman: Innocent or Just Good at Covering His Tracks? 🤔

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