SEC Has Evidence That Chris Larsen Keeps Moving His XRP Despite Facing Lawsuit

The U.S. Securities and Exchange Commission wants to know whether the proceeds from XRP sales are a major source of income for Ripple Labs CEO Brad Garlinghouse and co-founder Chris Larsen.

In a letter to Judge Sarah Netburn, the SEC’s senior trial attorney Jorge G. Tenreiro writes that the agency has obtained evidence that Larsen “appears to continue moving” his XRP in spite of legal scrutiny.

Tenreiro claims that the defendants’ financial condition is of critical importance to the case.

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