• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets Cryptos

SEC scores points as judge orders Ripple to hand over 1 million Slack messages

Ajibola Akamo by Ajibola Akamo
September 3, 2021
in Cryptos
Ripple
Share on FacebookShare on TwitterShare on Linkedin

Ripple, the creators of the XRP token, has been ordered to produce one million missing Slack messages between its employees. This order comes after the Securities and Exchange Commission (SEC) petitioned Ripple to hand them over.

The SEC stated that Ripple had agreed to produce this information at the beginning of the discovery phase but they later changed their minds stating that the exercise is an “extensive and costly fishing expedition” that will take up significant time and resources. Ripple stated that it would cost up to $1 million to produce these messages but judge Sarah Netburn deemed the messages critical and unique evidence for the SEC’s ongoing case against the multi-billion dollar company for selling unregistered securities.

According to the order, Ripple now has to produce Slack messages from 22 custodians listed out by the SEC. The order further ruled that Slack messages are relevant to both the parties and Ripple’s perceived burden is outweighed by its previous agreement to produce the same.

RelatedStories

Ripple, Brad Garlinghouse

Crypto startup, Ripple, agrees to acquire prime broker, Hidden Road for $1.25 billion 

April 8, 2025
Donald Trump pledges to make US the crypto capital of the world at the Bitcoin conference

Crypto market loses $130 billion as Trump’s tariff plans take effect this week 

March 31, 2025

READ: Ripple files motion to expose XRP holdings of SEC employees

It read, “the Slack messages sought are relevant to the parties’ claims and defenses and proportional to the needs of the case. Any burden to Ripple is outweighed by its previous agreement to produce the relevant Slack messages, the relative resources of the parties, and the amount in controversy.”

This order from the judge comes after the SEC was compelled to release some documents. During the conference call held on 31 August regarding the SEC’s privilege dispute, the judge also ordered the regulatory watchdog to produce internal documents regarding discussions over the nature of XRP and ETH, for which she will hold an in-camera review.

READ: SEC creates Fintech division to understudy cryptocurrency investments

What you should know

  • The lawsuit started in December 2020 when the SEC filed against Ripple alleging that Brad Garlinghouse and co-founder and former CEO, Chris Larsen had been conducting an “unregistered, ongoing digital asset securities offering” with their XRP token sales.
  • This caused the XRP token to nosedive by over 50% when the news broke as investors panic sold the cryptocurrency. XRP has however recovered since then, trading nearly $2 at the peak of the bull run before the May 2021 crash.
  • In June, Brad Garlinghouse and Chris Larsen filed a twin motion to dismiss the SEC case by petitioning international authorities to request documents from several other non-U.S.-based crypto exchanges including Bitstamp, Huobi and Upbit. These documents requested from these exchanges are expected to exonerate the pair from all charges.

XRP is trading $1.27 as of the time of this writing, up over 16% in the last 7 days as the altcoin market maintains bullish stature.

Tags: RippleXRP
Ajibola Akamo

Ajibola Akamo

Ajibola Akamo is an Investment Analyst, Financial Analyst, Economist and Accountant. You may contact him via his email ajibolaakamo@yahoo.com

Related Posts

Ripple, Brad Garlinghouse
Cryptos

Crypto startup, Ripple, agrees to acquire prime broker, Hidden Road for $1.25 billion 

April 8, 2025
Donald Trump pledges to make US the crypto capital of the world at the Bitcoin conference
Cryptos

Crypto market loses $130 billion as Trump’s tariff plans take effect this week 

March 31, 2025
Ripple teams up with Chipper Cash to boost cross-border payments in Africa 
Sectors

Ripple teams up with Chipper Cash to boost cross-border payments in Africa 

March 27, 2025
Ripple, Brad Garlinghouse
Cryptos

Ripple’s $75 million SEC settlement propels XRP to $2.51, boosting market confidence  

March 26, 2025
XRP sinks to $1.10 after three-year highs, whales take profit
Cryptos

XRP: Ripple settlement with SEC best option 

March 16, 2025
XRP sinks to $1.10 after three-year highs, whales take profit
Cryptos

Ripple: XRP on Rampage, kicks out USDT from 3rd Position

March 5, 2025
Next Post
Kaduna State Government declares NLC President, Ayuba Wabba, others wanted

What NLC plans to do if FG, DisCos increase electricity tariff 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • 15 things you don’t need to start a business in Nigeria 
  • NNPC, Akwa Ibom, GACN sign $3.5 billion gas agreement
  • Key policies that shaped Nigeria’s tech industry under Buhari’s 8-year rule 

Follow us on social media:

Recent News

Small Business

15 things you don’t need to start a business in Nigeria 

July 15, 2025
NNPC, Akwa Ibom, GACN sign $3.5 billion gas agreement

NNPC, Akwa Ibom, GACN sign $3.5 billion gas agreement

July 15, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics