Ripple’s appeal to Judge Torres includes a request to seal records related to the SEC’s Motion for Judgment and Remedies. A total of 280 million XRP tokens were transferred through Ripple and CEX.
According to Whale Alert, unidentified addresses recently moved 279.97 million XRP between Bitstamp and Ripple.
The Ripple XRP v. U.S. SEC litigation took a new turn when applications were filed to seal important information about remedies-related documents on May 13.
Renowned attorney James K. Filan revealed that Ripple’s CFO, Jonathan Bilich, has submitted a declaration supporting the company’s request to seal documents concerning discounts provided on XRP to institutional customers.
A staggering 280 million XRP tokens were traced back to Ripple and a controlled exchange (CEX) during the petition to seal specific papers related to the SEC’s Motion for Judgment and Remedies. Below is a summary of the events surrounding the filing of motions and additional comments from Ripple’s CFO.
Whale Alert reported massive XRP movements, with unidentified addresses transferring 279.97 million XRP between Bitstamp and Ripple. The well-known XRP whale, Rzn, moved money to Bitstamp, with the most recent transfer offloading 29.97 million XRP.
Another set of transactions caught attention, as XRP was transferred from Ripple to an unknown address via an unknown wallet. The first transfer sent 150 million XRP to the address 7XZ63sKxv3 using Ripple. Subsequently, 100 million XRP were sent to another unidentified address, ….r2SE32hk.
“I submit this declaration to support the redactions Ripple proposes,” stated Ripple’s CFO in his declaration regarding the company’s confidential information.
The redactions requested by Ripple include highly sensitive and confidential financial terms of Ripple’s contracts with third parties, specific financial figures from Ripple’s non-public audited financial statements, and highly sensitive and confidential information from Ripple’s internal financial reports regarding business strategies.
At the time of writing, XRP was priced at approximately $0.5004, reflecting a 1.31% decrease over the last 24 hours, according to CoinMarketCap. It also showed a 3.83% decrease over the previous seven days. The ongoing legal dispute and recent actions by Ripple have undoubtedly impacted market sentiment towards XRP.