Ripple CTO Addresses Allegations on XRP Sales Transparency
After the SEC requested financial data from Ripple, questions arose regarding the company’s approach to selling XRP and complying with regulations. Recently, David Schwartz, Ripple’s CTO, responded to claims suggesting that Ripple was attempting to conceal its XRP sales.
Social Media Debate on XRP Ledger Status
- Community members have expressed concerns about the XRP Ledger’s perceived weaknesses and their connection to Ripple.
- Specifically, Ripple’s introduction of an EVM sidechain for the XRP Ledger has sparked debate.
- Some believe this move could allow Ripple to hide its XRP sales.
Onledger, a project on the XRP Ledger, also made similar claims regarding Ripple’s EVM sidechain proposal. They suggested that this could enable Ripple to sell XRP tokens without transparency. However, Schwartz refuted these allegations, stating that if Ripple wanted to hide its sales, it could easily do so through exchanges with less accountability.
Conflicting Perspectives
- Schwartz highlighted that Ripple’s involvement in exchanges might not be widely known.
- Onledger disagreed, emphasizing that Ripple’s role in exchanges would not be concealed.
- Ripple’s sales have always been public, monitored through on-chain data, and reported every three months for transparency.
In response to concerns about XRP price suppression, Schwartz mentioned that Ripple has halted sales to institutions, a move that some believe has impacted price suppression. Overall, Schwartz aimed to clarify Ripple’s sales approach and address misunderstandings about transparency.
With new deadlines set in the SEC vs. Ripple case, it remains to be seen if any new developments will emerge in the ongoing legal battle.
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