Wednesday, September 22, 2021
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Ripple Gets Insight Into XRP Transactions On Binance From

© Reuters. – Ripple CEO Brad Garlinghouse gains insight into XRP transaction data from the crypto exchange Binance.

Sarah Netburn, the presiding judge in the ongoing lawsuit between Ripple and the US Securities and Exchange Commission (SEC), has granted Brad Garlinghouse’s request for access to documents from the Binance crypto exchange.

Garlinghouse is among the defendants in the SEC’s lawsuit for alleged violation of the 1933 Securities Act.

Last week, Garlinghouse lawyers filed a request to view XRP transaction data on Binance, the largest crypto exchange by trading volume.

The application was made as part of Ripple’s international disclosure process to collect data on all XRP transactions on the exchange.

The filing was recently approved, which is not surprising given that the SEC has raised no objection to it. The approval was viewed as a partial victory for Ripple in the litigation.

The court will now write to the Cayman Islands-based exchange on behalf of Garlinghouse. If Binance does so, it will provide documents that can be used as evidence in the case.

In the December 2020 lawsuit, the SEC alleged that Ripple and its executives, CEO Brad Garlinghouse and Executive Chairman Chris Larsen, sold unregistered securities, generating $ 1.3 billion in unregistered securities sales over eight years .

This claim has been refuted by Ripple’s legal team. They also recently invoked the “lack of clarity” argument and said the SEC had failed to clarify its securities regulations.

By providing evidence of XRP transactions outside the US, the Ripple team now wants to show that the SEC may not be responsible for such transactions.

In this regard, Binance is now an extremely important source of data on the XRP transactions for Ripple. Previously, Ripple was already allowed to query similar data from other exchanges on which XRP transactions were made, including Bitfinex, Bithumb, Bitstamp, HitBTC, Huobi Global and OKEx.

At around 3:35 p.m. CET, it was down around 2.6 percent at $ 0.731.

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Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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