TechFlow news — On March 20, Fox Business Channel reporter Charles Gasparino posted on social media stating that as XRP's price recently surged, Ripple CEO Brad Garlinghouse's net worth has reached approximately $10 billion, making him one of the wealthiest individuals in the United States. However, Gasparino questioned why Ripple has never publicly disclosed its specific financial earnings.
Gasparino emphasized that Ripple is essentially a traditional enterprise rather than a blockchain experiment. He believes this will become a key issue for SEC-nominee Paul Atkins to address regarding the Ripple case.
According to the SEC’s assessment, retail trading of XRP passed the decentralization test. Yet Gasparino pointed out that there is no doubt XRP has been used to build the Ripple platform, which constitutes a business operation. Under securities laws, such businesses are typically required to disclose financial information.
Gasparino revealed that this issue might be raised by Senator Elizabeth Warren, who is well-versed in securities law, during Atkins’ confirmation hearing next week.
