In a shocking series of disclosures, cryptocurrency expert Mr. Huber has leveled serious allegations against JPMorgan and the U.S. Securities and Exchange Commission (SEC), claiming a concerted conspiracy targeting Ripple and its cryptocurrency, XRP. Outlined in an extensive Twitter post, Mr. Huber’s claims weave a complicated narrative of interconnected relationships, clandestine meetings, and special regulatory treatments spanning multiple years.
Unveiling a complex web of connections and events, Mr. Huber tweeted:
The biggest corruption and financial scandal of the 21st century is waiting for a journalist who would like a Pulitzer Prize!
— Mr. Huber🔥🦅🔥 (@Leerzeit) August 22, 2023
You don't even have to do any more research. The XRP Community has already done it. Here I have laid out a timeline for you with a focus on JPMorgans…
The sequence of events commenced in February 2017, with the formation of the Enterprise Ethereum Alliance by JPMorgan and ConsenSys, a competitor to Ripple. By April of the same year, JPMorgan had withdrawn from a consortium including Ripple. In a surprising move, the SEC overlooked the Ethereum ICO in July, effectively granting it immunity. The story becomes more convoluted with JPMorgan’s top executives meeting with Ripple in December 2017 and secretive discussions with Coinbase in early 2018.
June 2018 saw former SEC Chair Bill Hinman bestowing Ethereum with a second regulatory exemption, providing it with unparalleled advantages. Fast forward to August 2020, JPMorgan sold its blockchain platform Quorum to Joseph Lubin and ConsenSys. In a dramatic turn, the SEC initiated legal action against Ripple in December 2020, with all senior officials involved in the lawsuit subsequently departing the SEC.
In April 2021, JPMorgan emerged as a principal investor in Ripple’s rival, ConsenSys. The following month, Lubin and SEC Commissioner Hester Peirce endorsed the issuance of “Everything of high value” on Ethereum at the BIS Panel. December 2021 saw JPMorgan fined $135 million for extensive recordkeeping failures.
The plot continued to thicken in March 2022, with JPMorgan investing several hundred million dollars into ConsenSys. In April 2022, a FOIA request concerning communications between JPMorgan and the SEC regarding Ripple was lodged. May 2023 witnessed a second legal action against the SEC for concealing documents related to Ethereum and ConsenSys, and the SEC’s admission of significant communication with JPMorgan about Ripple, coupled with further FOIA delays.
Adding to the intrigue, JPMorgan’s email provider inadvertently erased nearly 50 million emails from January 2018 to November 2020 in June 2023, coinciding with their record-keeping failure period. Around the same time, Ripple’s General Counsel called for an investigation into Hinman’s criminal financial conflicts, adding another dimension to the unfolding saga.
These startling revelations have reverberated throughout the cryptocurrency community, casting doubts over the integrity of major stakeholders in the digital finance arena. Mr. Huber’s detailed allegations hint at an ongoing, elaborate conspiracy.
