SEC wins motion to disclose Ripple financial statements, XRP sales details
A federal judge ruled that Ripple must disclose its financial records and details of XRP sales in the SEC’s lawsuit over an unregistered securities offering. Judge Sarah Netburn ruled in favor of the SEC, ordering Ripple to disclose its financial statements for 2022-2023. The decision aims to shed light on Ripple’s financial dealings and the impact of its post-complaint contracts and institutional XRP sales on the case’s outcome. “At this stage, the Court sees no basis to short-circuit that inquiry by denying access to readily available information that may be probative to the remedy stage,” Netburn said. NEW: The @SECGov has won its motion to compel @Ripple to produce its 2022-2023 financial statements, post-complaint contracts governing institutional sales of $XRP, and answer questions regarding the amount of $XRP institutional sales proceeds it received. pic.twitter.com/lyPBSBZcJi — Eleanor Terrett (@EleanorTerrett) February 5, 2024 ...