SEC

Court Declines SEC Request on Ripple Bigwigs Personal Finances

For the last couple of weeks, the price of XRP has moved in tandem with the news about the SEC case against Ripple. So far, things have been good, and XRP is holding strongly above the $1 mark. If the case latest news is anything to go by, then there is a good chance that XRP could maintain its momentum.

The latest news pertains to the SEC request to disclose Ripple bigwigs Brad Garlinghouse and Chris Larsen’s finances. The magistrate presiding over the case, Judge Sarah Netburn, has stated that the two’s financial records have no relevance to the case.

As per the court document on this issue, the judge states that the SEC’s subpoenas of 3rd party documents would lead to public exposure of personal information, yet it adds no value to the case. The judge added that the documents that the two defendants had provided up to this point were enough as far as relevance to the case was concerned. The judge added that the court found no evidence to the effect that any further verification was necessary.

The case in question is about an SEC assertion that Ripple Labs, Brad Garlinghouse, and Chris Larsen sold unregistered securities (XRP) between 2012 and 2013. At the time, the company was operating as OpenCoin. Despite the ongoing case, the price of XRP continues to surge, and the networrth of both Brad and Larsen has shot up by astronomical figures.

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