Main navigation

Ripple Supported by This Token Burner in Court, Here's What to Know

Thu, 10/11/2022 - 10:09
Ripple Supported by This Token Burner in Court, Here's What to Know
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Reaper Financial, LLC, has filed a motion to submit an amicus brief to support Ripple in its legal battle against the SEC in court. This is a blockchain company that issued its token RPR on XRP Ledger, and it burns the coins of other companies on the crypto market.

New ally stands with Ripple

Prominent corporate lawyer and Ripple enthusiast James Filan has taken to Twitter to share that Reaper Financial LLC has addressed Judge Torres - the presiding judge in the Ripple-SEC case - for permission to step in as amicus curiae in this case.

Reaper Financial is the emitter of RPR token based on XRP Ledger (XRPL). In the document filed with the judge, the company stresses that it is not directly connected to Ripple. Its main goal is purchasing the digital coins of other companies and destroying them, sending them to unspendable wallets, in order to reduce their circulating supplies.

JPMorgan Predicts Bitcoin Will Collapse to $13,000

SEC defeats Ripple ally in court

As reported by U.Today previously, one of the companies that supported Ripple in its legal case against the securities regulator has been defeated – LBRY network.

The court of the District of New Hampshire ruled out that the company's token should be qualified as an unregistered security – the same accusation that the SEC is attacking Ripple-affiliated XRP with.

Overall, recently, according to Ripple boss Brad Garlinghouse, 12 companies have filed amicus briefs to support Ripple Labs against the SEC. The U.S.-based crypto exchange Coinbase is among them.


Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles