Ripple’s Pursuit of Transparency Met with SEC’s Hypocrisy; Garlinghouse Speaks Out | CPT PPP Coverage
Cryptopolytech (CPT) Public Press Pass (PPP)
News of the Day COVERAGE
200000048 – World Newser
•| #World |•| #Online |•| #Media |•| #Outlet |
View more Headlines & Breaking News here, as covered by cryptopolytech.com
Ripple’s Pursuit of Transparency Met with SEC’s Hypocrisy; Garlinghouse Speaks Out appeared on coinpedia.org by Coinpedia Fintech News.
Ripple, a prominent crypto payments solutions firm, made headlines on August 2 with the release of its Q2 2023 XRP Markets Report. The report, aimed at bringing transparency to the cryptocurrency industry, sheds light on Ripple’s XRP holdings and on-ledger escrow activities.
However, the report’s release was marred by criticism from none other than Ripple’s CEO, Brad Garlinghouse, who accused the US Securities and Exchange Commission (SEC) of using the report to undermine the company during the ongoing legal battle.
XRP Holdings Soar!
The Q2 report revealed some significant figures that showcased Ripple’s growth and performance. The company’s XRP holdings experienced a substantial increase of nearly 45 million, reaching a total of 5,551,119,094 XRP. Simultaneously, the on-ledger escrow witnessed a decrease of almost 1 billion XRP, which mirrored the demand dynamics in the cryptocurrency market.
A Pursuit of Transparency
Despite Ripple’s voluntary efforts to provide the industry with a transparent view through these quarterly reports, the SEC’s actions have left the company feeling disheartened. Brad Garlinghouse emphasized the company’s unwavering commitment to transparency. Nevertheless, he hinted that future reports might undergo changes given the current circumstances and the potential for exploitation.
Related: SEC Faces Scrutiny Over Alleged Internal Operations Flaws in the Ripple Case
John Deaton Pitches In
Adding to the chorus of criticism against the SEC, XRP lawyer John Deaton also condemned the regulatory body’s use of the XRP Markets Report against Ripple and its executives. Deaton pointed out the discrepancy in treatment, wherein Ripple voluntarily discloses its information, while other firms allegedly conceal token sales and obscure transactions.
This has raised serious questions about the SEC’s approach and fairness in handling the case.
The ongoing lawsuit between Ripple and the SEC has drawn attention from the cryptocurrency community and regulatory circles alike.
This Might Interest You: ‘Anti-Crypto Army’ Would Have Risen If SEC Won Against Ripple, Claims Deaton
FEATURED ‘News of the Day’, as reported by public domain newswires.
View ALL Headlines & Breaking News here.
Source Information (if available)
This article originally appeared on coinpedia.org by Coinpedia Fintech News – sharing via newswires in the public domain, repeatedly. News articles have become eerily similar to manufacturer descriptions.
We will happily entertain any content removal requests, simply reach out to us. In the interim, please perform due diligence and place any content you deem “privileged” behind a subscription and/or paywall.
CPT (CryptoPolyTech) PPP (Public Press Pass) Coverage features stories and headlines you may not otherwise see due to the manipulation of mass media.
First to share? If share image does not populate, please close the share box & re-open or reload page to load the image, Thanks!