Ripple Opposes SEC’s Backer Redactions; Will Watchdog Reply?
Defendants in the XRP lawsuit, Ripple labs, Brad Garlinghouse and Chris Larsen on Wednesday filed a letter opposing the request of the US SEC’s supporter. This development comes as the much awaited Summary Judgment closes in.
Ripple wants details to be out publically
The latest court filings reveal that the defendants are opposing the letter motion by the “Investment Banker Declarant”. The declarant is seeking to redact his declaration in order to hide his details from public view in the XRP lawsuit. These details include his name, positions and info about his employer.
Ripple mentioned that the Declarant himself filed a declaration supporting the SEC’s motions for Summary Judgement. Defendants claim that this move leaves the Declarant no basis to request the court to conceal his name, position and other details.
Defendant asked the court to order the SEC’s backer declaration to be publically filled. However, it is unquestionable that the declaration lands under the judicial document. While it is entitled to a strong presumption of access that falls under both common law and the first amendment.
The Declarant submitted its declaration on September 8, 2022 and the SEC filed its Summary Judgment motion mentioning the same declaration just after 5 days. Ripple asserts that the details cannot fall under seal over compelling reasons justified by specific on the record findings.
Why are defendants raising disputes?
Ripple and the defendants later highlighted that earlier they didn’t raise any objection to the declarant’s proposed redactions. This included a 2019 email that holds numerous email addresses of the financial bank employees and Ripple employees.
However, Ripple’s filing highlighted that there are several compelling reasons which are lacking here. First is the factual circumstances around this declaration which support its public filing. Second, the claim raised by the declarant of a “risk of harassment”. It stands too vague for the defendants.
- Bank of America, Citigroup and Goldman Sachs Explore Issuing Stablecoins Pegged to G7 Currencies
- Breaking: Bitcoin Falls After Trump Threatens ‘Massive’ Increase in Tariffs on China
- Breaking: $8 Trillion Morgan Stanley Opens Bitcoin Investments to All Wealth Clients
- Bitget Strengthens On-Chain Rewards Push With Early Hunter Airdrop Launch
- Fed’s Chris Waller Reiterates Support for Rate Cuts but Urges Caution On Pace
- Can $TAPZI Reach $1 In Q1 2026?
- Here’s Why XRP Price May Have a Zcash-Like Surge
- $TAPZI Price Prediction: What’s Ahead of the $TAPZI token Presale?
- Cardano Price Targets $2 as Hydra 1.0 Ignites New Era of Speed and Adoption
- Dogecoin Price Prediction as $23M Leaves Exchanges—Is the Parabolic Phase Beginning?
- Pi Network Price Collapses as Analyst Proposes Turnaround Tweaks
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
