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After previous transparency efforts were used against it by the U.S. Securities and Exchange Commission (SEC), blockchain firm Ripple has announced plans to “sunset” its quarterly reports and change the way it reports its XRP holdings.
According to the company’s Q1 2025 XRP Market Report, it launched the three-monthly reports to “provide transparency into Ripple’s XRP holdings” and to “offer insights that few others in the industry were willing to share.”
However, the report claims that this reporting “has not had the intended effect” and that “Ripple’s transparency has been used against the company — most notably by former SEC leadership.”
It has not yet been announced exactly what form the new-look reporting will take, but CEO Brad Garlinghouse took to X to reassure those with an interest in Ripple and XRP.
“Our commitment to transparency doesn’t change with this evolution — we will continue to publish our XRP holdings on http://ripple.com/xrp,” he wrote.
He added, “Ripple & XRP-related ongoing updates will also be shared through existing social channels, rather than collated for a single, end-of-the-quarter update.”
Q1'25 was an incredible quarter for Ripple, with our acquisition of Hidden Road and end to the SEC case, not to mention institutional interest in XRP ETPs globally.Moving forward, the XRP Markets Report will look a little different. As some may remember, the objective of… https://t.co/0f9oarmi70
— Brad Garlinghouse (@garlinghouse) August 15, 2024
The company also said it will be publishing “additional perspectives and insights” as more institutions engage with XRP.
Last month, the SEC filed a joint motion with Ripple to stay its appeal of a ruling in the case. The motion sought to facilitate a “negotiated resolution” of the 2020 case, which alleged that Ripple’s XRP token was an unregistered security.
The case almost concluded in 2023 with a ruling that largely favored Ripple. But the SEC appealed this decision earlier this year.
It was also revealed last month that Ripple Labs donated $4.9 million to Donald Trump’s January inauguration, just three months before the SEC began staying appeals and reducing penalties against firms.
Protos has reached out to Ripple for more details on the new format of its reporting and will update if we hear back.
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