1. Allegations by the XRP Community
2. SEC's Alleged Inconsistencies
3. Additional Questions and Criticism

The XRP community has accused the SEC of manipulating the crypto market, alleging that the agency favors Bitcoin and Ethereum at the expense of Ripple.

Allegations by the XRP Community

The XRP community is intensively scrutinizing the SEC’s recent actions, alleging that the agency manipulates the crypto market. In a series of social media posts, crypto enthusiasts and investors have highlighted the statements of former SEC director William Hinman on Ethereum, further fueling long-standing controversies in the crypto industry.

SEC's Alleged Inconsistencies

A video featuring former SEC counsel Nancy Wojtas has gained significant attention. In her remarks, Wojtas highlighted the mutable nature of tokens, raising doubts about the SEC’s regulatory consistency. Wojtas noted, 'Tokens are mutable, you know they can change. That’s what Bill Hinman said. And it's like, well, we don't really believe that.’ Crypto enthusiasts added that Hinman’s statements create a grey area in the industry, allowing Bitcoin and Ethereum to dominate.

Additional Questions and Criticism

The XRP community also highlighted statements by Ethereum co-founder Vitalik Buterin, who recently admitted to selling Ether to support other projects but did not face the same legal challenges as Ripple. Buterin noted, 'All sales have been to support various projects that I think are valuable, either within the Ethereum ecosystem or broader charity, such as biomedical R&D.' The XRP community compared his actions to a securities transaction and questioned why the SEC has not taken similar action against Ethereum. Pro-XRP lawyer Bill Morgan referenced Elon Musk's comments on monopolistic behavior by industry regulators and suggested that actions by the agency under Hinman and former Chair Jay Clayton demonstrated clear favoritism.

The allegations by the XRP community against the SEC reveal potential inconsistencies within regulatory practices that could undermine market integrity. This underscores the need for transparent and consistent regulations for the crypto sector.