Ripple CEO, Brad Garlinghouse, criticized the U.S. Securities and Exchange Commission (SEC) for misusing the company’s quarterly XRP market reports in the ongoing lawsuit. Garlinghouse pointed out that Ripple was never required to publish these reports but did so voluntarily to provide transparency about their XRP holdings. However, the SEC used the information from these reports against Ripple, alleging fraud and market manipulation. Ripple announced changes to the format of future reports to clarify misunderstandings and provide transparency. The SEC’s lawsuit and regulatory scrutiny have negatively impacted XRP, leading to its delisting from many platforms.
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