Dr. Russell McGregor urges Ripple to release government records regarding Epstein-related influence on early crypto policy targets $XRP.
The release of the Epstein files reignited controversy, especially within the crypto community. $XRP. The viral email sparked a debate over whether disgraced investors may have influenced early cryptocurrency regulations that negatively affected Ripple. $XRPor Stella.
Important points
- Dr. Russell McGregor said Epstein’s files raise questions about possible undisclosed targeting efforts. $XRP.
- He is calling on Ripple to fully disclose the Epstein-related influence on its early crypto policies.
- David Schwartz, Ripple’s chief technology officer emeritus, believes the controversy is likely to deepen further.
- Some community members suspect that Ripple will aggressively pursue this issue because of its relationship with the US government.
Blockstream co-founder opposes investment in Ripple and Stellar
The speculation gained momentum after emails surfaced showing Blockstream co-founder Austin Hill urging Jeffrey Epstein and Joichi Ito to withdraw or limit funding for Jed McCaleb-related projects, particularly Ripple and Stellar.
In a July 2014 email titled “Stella isn’t that good,” Hill labeled both companies as detrimental to the industry. He also argued that supporting them would tarnish the image of cryptocurrencies and suggested discussing ways to “address” the issue. As a result, this communication reignited the debate over ideological rifts in early cryptocurrency circles.
Ripple must request government records on social influence related to Epstein $XRP
In response, McGregor, a widely followed cryptocurrency critic, suggested that the email raises widespread questions about Epstein’s behind-the-scenes influence during the formative years of cryptocurrencies.
He therefore called on Ripple to pressure the SEC, Department of Justice, and Congress to reveal whether individuals or networks associated with Epstein shaped early crypto policies, enforcement priorities, or regulatory narratives targeting Ripple. $XRPor Stella.
He also pointed to former SEC Chairman Gary Gensler’s previous academic involvement in blockchain education at MIT as an area that requires scrutiny. McGregor suggested that undisclosed influence may have influenced policy decisions and subsequently influenced Ripple’s regulatory treatment.
Ripple regulatory issues in the US
The email exchange took place in July 2014, and Ripple has since come under continued regulatory scrutiny from FinCEN and the SEC. In 2015, FinCEN worked with the U.S. Attorney’s Office to impose a $700,000 civil penalty on Ripple for violating the Bank Secrecy Act.
Then, in December 2020, the SEC filed a multi-year lawsuit accusing Ripple of raising more than $1.3 billion through fundraising. $XRP Sales were classified as unregistered securities. The lawsuit lasted five years, but ended with Ripple paying a $125 million penalty and accepting a permanent injunction against any future charges. $XRP Sales to institutions.
Now, Hill’s letter to Epstein and his call for a discussion on how to “handle” the issue have recently become public knowledge, fueling speculation that industry insiders may have influenced Ripple’s legal troubles.
As a result, McGregor asked Ripple to formally request all government records related to Epstein-related influence on early crypto policies that affected the company. $XRPor even comparable to Stella.
Will Ripple requests government records related to: $XRP?
His view echoes comments from Ripple Chief Technology Officer Emeritus David Schwartz, who said he would not be surprised if Hill’s letter turns out to be just the tip of a larger iceberg, suggesting deeper issues could emerge.
Meanwhile, some users have argued that Ripple may avoid pressure on federal agencies because of its ties to the US government.
