The Q2 2023 XRP Markets Report has been released by Ripple, the organization in charge of looking after the XRP cryptocurrency. John Deaton, a well-known figure in the XRP community, has entered the ongoing dispute between Ripple, the company that looks after XRP, and the US Securities and Exchange Commission (SEC). Deaton insists that Ripple’s steadfast commitment to transparency has served as its ultimate defense against claims of fraud, misrepresentation, or manipulation.
Deaton emphasized that while the SEC may have benefited from Ripple’s openness towards it, the company’s commitment to transparency mostly protected it from any fraud claims. He stated that Ripple was not required to release the information it did because it was a private company. However, its voluntary decision to disclose token sales and other financial activities has surely established a new standard in the cryptocurrency sector.
In the middle of the ongoing legal stalemate, Brad Garlinghouse made a suggestion that Ripple may eventually change the way it discloses its financial information. He claimed that although the company would remain committed to transparency, the style and scope of their articles might alter.
The Impact of Ripple’s Authorised Tussle Globally
An attention-grabbing exchange started when an Australian user of XRP pointed out a mistake in a tweet from Ripple CEO Brad Garlinghouse. The customer realized that the SEC’s efforts against Ripple had significant effects on XRP holders not only in the United States but also around the world. Garlinghouse responded by recognizing the global impact, demonstrating the broad ramifications of the SEC complaint.
Another active member of the XRP community, Invoice Morgan, added his voice to the spirited exchange and stressed the fungibility of the XRP token. He criticized the SEC’s claim that there is a perpetual global business in his argument, noting that all XRP holders’ values, regardless of location, rise and fall together.
