Share this article
Ripple Files Motion Requesting SEC Hand Over Documents Related to Ongoing Complaint
The company wants to force the agency to disclose why it views XRP differently than bitcoin and ether.
By James Rubin
Updated Sep 14, 2021, 1:47 p.m. Published Jun 5, 2021, 2:09 a.m.
Make us preferred on Google
Lawyers representing Ripple Labs, CEO Brad Garlinghouse and a co-founder, Chris Larsen, filed a motion Friday to compel the U.S. Securities and Exchange Commission to produce two sets of documents the company requested earlier this year.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The documents relate to SEC communications with third parties regarding bitcoin, XRP or ether. Ripple is seeking to force the SEC to disclose why it came to the conclusion that bitcoin and ether are commodities, not securities like XRP.
- In December the SEC filed a complaint alleging Ripple raised over $1.3 billion through an unregistered, ongoing digital asset securities offering. The agency is seeking injunctive relief. "We allege that Ripple, Larsen, and Garlinghouse failed to register their ongoing offer and sale of billions of XRP to retail investors, which deprived potential purchasers of adequate disclosures about XRP...,” said Stephanie Avakian, director of the SEC's Enforcement Division, in a December press release.
- On April 6 and May 6, United States Magistrate Judge Sarah Netburn of New York’s Southern District had ordered the SEC to provide the documents but the agency has yet to comply, citing relevance.
- The two sides have met independently five times to try to resolve the issue, most recently on June 1, according to the Ripple motion.
- At CoinDesk’s Consensus 2021 event last month, Garlinghouse said he felt the case had broader repercussions for how cryptocurrency is viewed in the U.S.
Read more: Ripple CTO: The Market Considers XRP to Be Similar to Bitcoin and Ether
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Bitcoin stuck near $88,000 as gold's and silver's record-breaking rallies show exhaustion signs
"Gold and silver casually adding an entire bitcoin market cap in a single day," wrote one crypto analyst.
What to know:
- Bitcoin is off its worst levels of the weekend, but still near the year's low at $87,700.
- Facing the same news cycle as crypto, precious metals continued to surge higher, but a quick retreat from their highs on Monday suggested a bit of exhaustion was setting in.
- Analysts remain dour on the outlook for crypto prices given the looming government shutdown as well as delays in passage of the Clarity Act.
Top Stories
