Former executive at Ripple (XRP), Matt Hamilton, recently shared a special opinion. He firmly believes in a conspiracy that has been doing the rounds within the crypto community for a few months now. The theory states that there would be a conspiracy between the Ethereum (ETH) network and the US Securities and Exchange Commission (SEC).
ETHGate
The plot has now also been given the unofficial name of ‘ETHGate’. It is alleged that the US regulator would cooperate with Ethereum, while competitors of Ethereum, including of course Ripple, would be dealt with.
According to Hamilton there is no reason to doubt the plausibility of this conspiracy. However, according to Hamilton, it is not directly about a global conspiracy in which XRP would be the target of the ‘global elite’.
A major reason why Hamilton believes the plot to be true is the so-called ‘Hinman Emails’. These are documents related to a speech by former SEC chief William Hinman, which he gave years ago. In this speech, Hinman allegedly stated, among other things, that Ethereum cannot be seen as a securityor effect.
The question of whether one or more cryptocurrencies can be seen as securities is also the central issue that plays a role in the infamous lawsuit between Ripple and the SEC. According to Hamilton, this can hardly be a coincidence. He argues that the SEC must conspire with Ethereum.
“The emails will be interesting to read.”
Charles Hoskinson lashes out at conspiracy theory
Also the founder of it Cardano (ADA) network, Charles Hoskinson, ran into similar conspiracy theories. Was in it a while back ripple news to read that he was also accused by the XRP community of colluding with the SEC, which of course he vehemently denied.
These allegations were enough for Hoskinson to settle in the future no longer dealing with the Ripple casewhile in his own words he has always been on Ripple’s side.
At this time, there are no concrete facts that support ETHGate or other conspiracy theories related to Ripple and the SEC.