Ripple Provided Major XRP Price Discounts To Select Investors, SEC Claims
Summary
The SEC filed a motion for remedies and final judgment against Ripple in the XRP lawsuit, seeking injunctive relief, disgorgement of profits, and $2 billion in civil penalties. The SEC alleges that Ripple favored select institutional investors by offering them significant discounts on XRP tokens, creating an uneven playing field. Ripple's CLO, Stuart Alderoty, disputed the SEC's narrative, accusing the regulator of false statements and misleading tactics. The SEC's claims could harm Ripple's reputation with institutional investors. Ripple's response to the SEC's filing is expected next month. At present, XRP is trading at $0.64365.
