Thread by @JohnEDeaton1

WHISTLEBLOWER ALERT 💥💥🧨:

@SundaySaucy deserves💰

I think Bill Hinman could’ve used some legal advice before signing the Sworn Declaration filed by @SECGov. If his speech reflected ONLY his personal opinion and was not guidance by the SEC, he is in violation of Title 5👇

https://twitter.com/SundaySaucy/status/1471537591405137920

“The Speech was intended to express my own personal views. To the best of my knowledge, the Commission had not taken at that time, and still has not taken, any position or expressed a view as to whether offers and sales of Ether constituted offers and sales of securities.” 👇👇

You can’t use public office for private gain:

“An employee shall not use his public office for his own private gain, for the endorsement of any product, service or ENTERPRISE, or for the private gain of friends, relatives, or persons with whom the employee is affiliated.”

His firm was a member of the Enterprise Ethereum Alliance.“The EEA is a member-led industry organization whose objective is to drive the use of Enterprise Ethereum and Mainnet Ethereum blockchain technology as an open-standard to empower ALL enterprises.”👇entethalliance.org/about/

Hinman collected $15 million while at the SEC. He claims it was “retirement benefits.” But he “un-retired” immediately going back to SImpson Thacher after leaving the SEC. Even if it was strictly retirement benefits, his speech benefited his firm and it’s clients.

If the law has always been crystal clear as Clayton and @GaryGensler claim, then there was no reason for Hinman to give the speech declaring Ether a non-security.

The SEC claims his speech had nothing to do with SEC guidance to the markets. Hinman might want to seek counsel.