In a post on X, Charles Gasparino, Fox Business correspondent, raised questions about Ripple and its CEO. According to Gasparino, Garlinghouse may now be valued at an estimated $ 10 billion – the company’s financial disclosure is still largely hidden from public opinion.
Ripple CEO faces audit
“With the last prices in XRP, the CEO of Ripple CEO of Garlinghyus is about $ 10 billion, making it one of the richest people in the country,” books. “However, why didn’t anyone see a public introduction from Ripple about the amount of money the company achieves? Ripple is a business, in the traditional sense. It is not the Blockchain experience.”
He also hinted that this lack of transparency could become a pivotal issue for Paul Atkins, former SEC Commissioner, who was nominated by President Donald Trump to lead the US Securities and Stock Exchange Committee (SEC). Atkins is scheduled to appear before the Senate Banking Committee on March 27, 2025, for his confirmation session, as it is expected that legislators such as American Senator Elizabeth Warren are expected to face.
“This will be the main question of Paul Atkins and SEC about the issue of ripples to move forward. XRP retail passes decentralization, according to SEC. But there is no doubt that it was used to build a rippal platform, which is a commercial matter. He said,“ Jasbrino books.
Garinghouse and Ripple, on their part, did not publicly comment on Gasparino’s notes. While the company is known for issuing a quarterly reports of XRP Markets that separate the distinctive symbol holdings and the status of some warranty accounts, it does not publish comprehensive financial data such as public companies. Since the company is owned by private ownership, the American Securities Law does not require files such as 10-KS or 10-SS.
Gasparino’s functions reach another important legal development for Ripple. Only this week, Garlinghouse revealed that the US Securities and Stock Exchange Committee ended its appeal by Judge Angia Torres in July 2023 in Manhattan, which found that XRP sold on public stock exchanges does not meet the legal definition of security.
Senator Elizabeth Warren, who is widely considered a critical of the cryptocurrency, is a potential potential in the upcoming confirmation session. Gasparino noted that the Senate in the state of Massachusetts may press Atkins to process whether Ripple, as a private company that issues an integral code of its operations, must reveal traditional financial statements under Securities laws.
If Garinghouse’s net value is 10 billion dollars, it will hover around the hundred in American wealth categories, which it nourishes to a large extent due to the high market value of XRP. The Ripple code, which was initially dedicated to 100 billion units, has raised frequent questions over the years about how profits flow to the leadership of companies and the first founders.
While public records are scattered, the court documents in a lawsuit for the Supreme Council for Education against Ripple shed light on XRP’s personal GarlingHouse sales. Between 2017 and 2020, Garinghouse sold an estimated $ 164.26 million from XRP, with more than 90 % of the sales made on foreign exchanges. The highest sales occurred in one year in 2017, where about 42.27 million dollars recorded one self -directed transaction via Bitstamp.
It is said that Chris Larsen, CEO of the founder and co -founder of Ripple, represented the remaining part of $ 600 million in XRP sales not registered in the lawsuit of the Supreme Education Council. Meanwhile, the initial founders – Arthur Britto, goods, and Larsen – 20 billion XRP when creating a distinctive symbol. Ripple was later closed 55 billion XRP in the warranty in 2017, with the aim of providing the ability to predict symbolic supply.
At the time of the press, XRP was traded at $ 2.41.
Distinctive image from YouTube, Chart from TradingView.com
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