Ripple formally announces the halt of its quarterly publication of XRP market reports. Chief executive Brad Garlinghouse announced the shift in corporate transparency policy according to his statement.
Since 2017, Ripple has launched reports to provide transparency about their XRP ownership and trading conduct. The company ended the periodic reports after the U.S. Securities and Exchange Commission issued legal challenges against its format.
Garlinghouse stated that the SEC used the reports as evidence to support their lawsuit against Ripple. The SEC used Ripple’s disclosures to prove XRP lacks sufficient decentralization standards. In 2020, Ripple’s court case transformed how the company handled its public relations activities.
Ripple Alters Communication Strategy but Maintains Transparency Pledge
Ripple continues to share information about its XRP holdings through published updates on its website despite stopping its quarterly reports. The company now shares updates through blog posts and social media platforms rather than publishing quarterly formal documents.
The strategy aims to minimize legal risks without compromising the flow of information to the XRP community. Ripple’s divided approach to information disclosure might decrease the potential methods regulators could use as court evidence.
The company continues to hold a significant amount of XRP. According to Ripple’s last quarterly report, they control 45.86 billion XRP tokens, including those reserved in escrow. The current market valuation of Ripple’s holdings stands at approximately \$99 billion.
The XRP community members responded positively and negatively to Ripple’s recent announcement. Users show conflicting reactions to this continued transparency through alternative channels yet remain concerned about missing structured reporting features.
Ripple claims its underlying commitment to openness continues unchanged. Ripple insists this new reporting structure fits their operational flexibility while supporting their current legal strategy.
