Crypto Influencer Accuses The SEC Of Bribery In Ethereum Designation

Amid a prolonged legal dispute between the Securities and Exchange Commission (SEC) and blockchain company Ripple over the unauthorized sale of XRP XRP/USD coins, crypto influencer Ben Armstrong has accused the former SEC Director of the Division of Corporation Finance William Hinman of allegedly receiving a bribe to designate Ethereum ETH/USD a commodity.

#Crypto youtuber @Bitboy_Crypto swings on #WilliamHinman with Bribe accusation to make #ETH commodity when he was #SEC director. #Bitboy_Crypto #YouTuber #SEC #CryptoNews https://t.co/i49aGqjThk

— The Crypto Times (@CryptoTimes_io) October 10, 2022

Armstrong, who goes by the pseudonym “BitBoy Crypto” on his YouTube channel, said, “William Hinman certainly accepted bribes. It’s clear.” However, Armstrong said he also refuses to choose among cryptos, adding that his “three biggest holdings are XRP, ADA, & ETH, and I refuse to take sides. They all win.”

Lack Of Regulations In The Crypto Space

Hoskinson had already addressed this issue in a series of tweets.

He said, among other things, that Ripple should concentrate on advocating for more regulatory clarity rather than alleging that the SEC was bought off to ignore Ethereum.

“Analyzing the allegations of corruption seems to imply that Ethereum should also be sued by the SEC, but wasn’t because of relationships. But how does this in any way solve the larger issue of cryptocurrencies being forced into a framework that makes no sense?” Hoskinson asked.

Hinman’s Comments On ETH Obfuscated By The SEC

The regulator’s effort to conceal the records pertaining to Hinman was rejected by a federal judge in the SEC v. Ripple lawsuit. These records pertain to his 2018 summit address, in which he stated that Ethereum and Bitcoin  BTC/USD were not securities.

I believe Judge Torres will side with Judge Netburn and Ripple.
1. Judge Netburn's Ruling the SEC to turn over the Hinman speech documents.
2. Judge Netburn called the SEC's argument hypocritical to the Law.
3. XRP is an ASSET under The 1933 Blue Sky Law!
4. Utility matters! 🎯 pic.twitter.com/8dKheT3QZ9

— ⭕ RIZ.GaryGenslerResign ☀️ (@RizXRP) September 20, 2022

Meanwhile, Armstrong is busy with a defamation lawsuit that he filed against crypto YouTuber Erling Mengshoel, a.k.a. Atozy, whom Armstrong accused of slander over in a video released on November 9, 2021, calling Armstrong a “shady dirtbag who milks his audience for a quick buck rather than giving them genuine advice.”

Benzinga has reached out to Hinman for a comment on the allegations.

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This article was originally published on Benzinga and appears here with permission.