Ripple accuses SEC of weaponizing the company’s quarterly reports in court

2023-8-2 23:15

Ripple has decided to remove details of its XRP transactions from its quarterly reports, a change driven by a lawsuit from the U.S. Securities and Exchange Commission (SEC) against the company.

In the July 31 report, Ripple explained that the SEC’s action forced it to re-evaluate the role and contents of its quarterly report from now on. However, the firm stated that it remains committed to being transparent.

Brad Garlinghouse, Ripple’s CEO, also reiterated this comment in a separate tweet, saying:

“We began these reports to voluntarily provide updates given our XRP holdings. Sadly, they were used against us in the SEC lawsuit – however, we remain steadfast in our commitment to transparency but I suspect they’re going to look a bit different moving forward.”

Crypto lawyer John Deaton noted that Ripple was not obligated to provide the information it has been sharing since 2017 as a private company.

But he added that Ripple’s transparency likely prevented the SEC from bringing any charges related to fraud, manipulation, and misrepresentation against the company.

Q2 takeaways

The most recent XRP report emphasizes the court decision in the SEC vs. Ripple case, in which the court determined that the XRP digital asset is not a security.

Going by this, Ripple stated that only its XRP token and Bitcoin (BTC) were the only assets with legal clarity in the U.S.

“On July 13 the Court unequivocally ruled that XRP, in and of itself, is not a security. XRP, along with BTC, are now the only two digital assets in the U.S. with that clarity”

Furthermore, the crypto payment company challenged SEC Chair Gary Gensler’s frequent assertion that all cryptocurrencies, apart from BTC, are securities.

The firm wrote that the court’s decision has put to bed any “strategy of intimidation and misinformation” the SEC might employ in its quest.

Ripple also revealed a roughly 45 million increase in its total XRP holdings, from 5.5 billion to 5.55 billion, within the quarter. Concurrently, the total amount of XRP in the Ledger Escrow dropped by over 900 million, from 42.8 billion to 41.9 billion.

The post Ripple accuses SEC of weaponizing the company’s quarterly reports in court appeared first on CryptoSlate.

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quarterly ripple sec reports company report court

Источник: cryptoslate.com

quarterly ripple → Результатов: 48


Q2 2020 XRP Markets Report

Ripple publishes the quarterly XRP Markets Report to voluntarily provide transparency and regular updates on the company’s views on the state of the XRP market, including quarterly programmatic and institutional sales updates, relevant XRP-related announcements, such as Xpring and RippleNet partnerships, and commentary on previous quarter market developments.

2020-8-4 21:23


Q1 2020 XRP Markets Report

Ripple publishes the quarterly XRP Markets Report to voluntarily provide transparency and regular updates on the company’s views on the state of the XRP market, including quarterly programmatic and institutional sales updates, relevant XRP-related announcements such as Xpring and RippleNet partnerships and commentary on previous quarter market developments.

2020-5-1 23:06


Фото:

Q4 2019 XRP Markets Report

Ripple publishes the quarterly XRP Markets Report to voluntarily provide transparency and regular updates on the company’s views on the state of the XRP market, including quarterly programmatic and institutional sales updates, relevant XRP-related announcements such as Xpring and RippleNet partnerships and commentary on previous quarter market developments.

2020-1-23 22:05


Фото:

Do the Math: XRP is One Tenth As Volatile As Fiat for Cross-Border Transactions

Many consider data transparency the foundation of truth. It gives people access to information and an opportunity to form their own, unbiased opinions. At Ripple, we provide transparency about Ripple’s sales of the digital asset XRP through our quarterly reporting, and we continue to find other ways to share new useful data and insights about … Continued The post Do the Math: XRP is One Tenth As Volatile As Fiat for Cross-Border Transactions appeared first on Ripple.

2019-11-1 20:29


Q3 2019 XRP Markets Report

Ripple publishes the quarterly XRP Markets Report to voluntarily provide unparalleled transparency and regular updates on the state of the XRP market, including quarterly programmatic and institutional sales updates, relevant XRP-related announcements such as Xpring and RippleNet partnerships, and commentary on previous quarter market developments.

2019-10-20 00:49


Ripple Quarter 2 Market Report: A Look at XRP Performance for Q2 2019

Ripple takes the time to publish markets reports on a quarterly basis to let investors know just how XRP is performing along with regular updates on the state of the market overall. In addition to this, the team publishes quarterly programmatic as well as institutional strategy, sales and relevant XRP related announcements. These include the […]

2019-7-30 05:50


Ripple Dumped $250 Million in XRP in Q2 – And 40% Went to Whales

  Ripple Labs released its quarterly report this morning. The report focuses on finding legitimate trading volume data and Ripple’s strategy for dumping its XRP hoard moving forward. Ripple Vows to Drastically Reduce Income from Selling XRP on Open Market In this nascent industry, we need to be transparent and urge others to do the […] The post Ripple Dumped $250 Million in XRP in Q2 – And 40% Went to Whales appeared first on CCN Markets

2019-7-25 21:08


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