Ripple’s XRP sales suppressed coin price, amended court complaint alleges

Cointelegraph

Published Feb 19, 2021 05:05AM ET

Updated Feb 20, 2021 07:20AM ET

The United States Securities and Exchange Commission has alleged that Ripple Labs executives Bradley Garlinghouse and Christian Larsen manipulated the XRP price by ramping up or slowing down their coin sales depending upon market conditions.

In an amended complaint filed Feb. 18, the plaintiff — the U.S Securities and Exchange Commission —reiterated its stance that Ripple Labs, Christian Larsen and Brad Garlinghouse violated securities laws with the sale of XRP coins starting in 2013:

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