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10 Min Read The current and former CEOs of the blockchain payments company Ripple won t have to bare their financial lives to the U.S. Securities and Exchange Commission after a ruling on Friday from U.S. Magistrate Judge Sarah Netburn of Manhattan. Netburn granted a motion by Ripple CEO Brad Garlinghouse and co-founder and former CEO Chris Larsen to quash SEC subpoenas for eight years of banking records that the government said it needed to prove that Garlinghouse and Larsen engaged in the sale of unregistered securities when they traded XRP, digital tokens that were originally distributed on the Ripple platform. The SEC also alleges that the two executives aided and abetted Ripple in the sale of more than $1 billion in unregistered XRP between 2013 and 2020.

Chris larsenSarah netburnAlison frankelBrad garlinghouseMartin flumenbaumJorge tenreiroExchange commissionRevenue serviceThomson reuters trust principlesUs supreme courtCleary gottlieb steen hamiltonWj howey coJudge sarah netburnMatthew solomonCleary gottlieb steenNeither solomon