{"id":47444,"date":"2021-08-10T10:40:30","date_gmt":"2021-08-10T07:40:30","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=47444"},"modified":"2025-09-01T21:24:01","modified_gmt":"2025-09-01T18:24:01","slug":"sec-seeks-access-to-terabytes-of-ripple-employees-slack-messages","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/sec-seeks-access-to-terabytes-of-ripple-employees-slack-messages\/","title":{"rendered":"SEC seeks access to &#8216;terabytes&#8217; of Ripple employees&#8217; Slack messages"},"content":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) has filed a court motion seeking access to Ripple employees\u2019 Slack messages, according to attorney James Filan.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/XRPCommunity?src=hash&#038;ref_src=twsrc%5Etfw\">#XRPCommunity<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/SECGov?src=hash&#038;ref_src=twsrc%5Etfw\">#SECGov<\/a> v. <a href=\"https:\/\/twitter.com\/hashtag\/Ripple?src=hash&#038;ref_src=twsrc%5Etfw\">#Ripple<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/XRP?src=hash&#038;ref_src=twsrc%5Etfw\">#XRP<\/a> BREAKING: SEC files emergency motion for a discovery conference regarding Slack communications. Seeks order compelling Ripple to search and produce relevant communications between Ripple employees on Slack.<a href=\"https:\/\/t.co\/AQ8Av1igoV\">https:\/\/t.co\/AQ8Av1igoV<\/a><\/p>\n<p>\u2014 James K. Filan \ud83c\uddfa\ud83c\uddf8\ud83c\uddee\ud83c\uddea (@FilanLaw) <a href=\"https:\/\/twitter.com\/FilanLaw\/status\/1424755346409758721?ref_src=twsrc%5Etfw\">August 9, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Regulators say Ripple staff used Slack as frequently as email. As a result, Ripple may be required to provide the SEC \u201cmore than a million messages, spanning terabytes of data.\u201d<\/p>\n<p>The filing notes that at the outset Ripple agreed to disclose the information but provided only 1,468 messages. The SEC says the messages contained \u201ccritically important and unique\u201d data.<\/p>\n<p>The material concerns Ripple\u2019s aims to spur speculative trading of XRP, concerns about XRP\u2019s price, the impact of token sales on its business, and the asset\u2019s regulatory status.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abA month later, after repeated statements that Slack disclosures were complete, Ripple admitted that due to a data-processing error it had gathered only a small portion of the messages, while \u201ca huge amount of information\u201d had not been collected or reviewed\u00bb, the filing states.<\/p>\n<\/blockquote>\n<p>Officials say the Slack data could refresh witnesses\u2019 memories for questions asked during testimony.<\/p>\n<p>Lawyer Jeremy Hogan noted that the SEC filed the motion to prove that XRP is a security, adding that the regulator \u201chas had some success with this argument in the past.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The SEC has had some success with this argument in the past and it makes sense as a strategy since in all substantive ways XRP is NOT like a security. We will need to see Ripple\u2019s response before taking a gander as to whether the court will order production of the documents.<\/p>\n<p>\u2014 Jeremy Hogan (@attorneyjeremy1) <a href=\"https:\/\/twitter.com\/attorneyjeremy1\/status\/1424820456771756035?ref_src=twsrc%5Etfw\">August 9, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The Commission also argued that Slack communications could be used to refresh witnesses\u2019 memories; Ripple\u2019s counsel noted the privilege concerns and the ongoing disputes over deliberative process privilege.<\/p>\n<p>According to Filan, Ripple expects to file an eight-page letter in the coming days outlining its position.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/XRPCommunity?src=hash&#038;ref_src=twsrc%5Etfw\">#XRPCommunity<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/SECGov?src=hash&#038;ref_src=twsrc%5Etfw\">#SECGov<\/a> v. <a href=\"https:\/\/twitter.com\/hashtag\/Ripple?src=hash&#038;ref_src=twsrc%5Etfw\">#Ripple<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/XRP?src=hash&#038;ref_src=twsrc%5Etfw\">#XRP<\/a> Ripple files request for extension until Aug. 16, 2021 to respond to SEC\u2019s emergency motion on Slack discovery dispute.<\/p>\n<p>\u2014 James K. Filan \ud83c\uddfa\ud83c\uddf8\ud83c\uddee\ud83c\uddea (@FilanLaw) <a href=\"https:\/\/twitter.com\/FilanLaw\/status\/1424826363702358016?ref_src=twsrc%5Etfw\">August 9, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The parties also debated the deliberative process privilege. The Commission <a href=\"https:\/\/u1f987.com\/en\/news\/ripple-wins-subpoena-for-former-sec-official-to-testify\">attempted to deny Ripple\u2019s motion<\/a> to compel the appearance of a former SEC official, William Hinman, in court.<\/p>\n<p>Filan said Ripple plans to file an eight-page letter outlining its position in the coming days.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">BREAKING: Parties tee up deliberative process privilege dispute with respect to documents withheld by the SEC; joint request for 8-page letters.<\/p>\n<p>\u2014 James K. Filan \ud83c\uddfa\ud83c\uddf8\ud83c\uddee\ud83c\uddea (@FilanLaw) <a href=\"https:\/\/twitter.com\/FilanLaw\/status\/1424780398500978691?ref_src=twsrc%5Etfw\">August 9, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier, Ripple lawyers <a href=\"https:\/\/u1f987.com\/en\/news\/ripple-lawyers-say-sec-claims-are-unfounded\">called the SEC\u2019s claims unfounded<\/a> and filed an additional notice in support of the request to terminate the SEC case.<\/p>\n<p>Recall that the Cayman Islands-registered Binance Holdings Limited was the subject of the request for disclosure; Ripple sought disclosure of documents <a href=\"https:\/\/u1f987.com\/en\/news\/ripple-seeks-documents-from-binance-in-sec-case\">from the Cayman Islands-registered Binance Holdings Limited<\/a>.<\/p>\n<p>Read ForkLog\u2019s bitcoin news in our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 crypto news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission filed a court motion seeking access to Ripple employees&#8217; Slack messages.<\/p>\n","protected":false},"author":1,"featured_media":47445,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[112,128,26],"class_list":["post-47444","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ripple","tag-sec","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47444","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=47444"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47444\/revisions"}],"predecessor-version":[{"id":47446,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47444\/revisions\/47446"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/47445"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=47444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=47444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=47444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}