币界网报道：A U.S. judge has denied Ripple Labs' request to seal financial documents and settlement discussions in its ongoing legal battle with the SEC, upholding a $125 million penalty against the blockchain company. The ruling requires Ripple to disclose historical contracts and financial statements that the SEC argues are crucial to determining appropriate remedies. While Ripple claimed these documents contained sensitive business information, Judge Sarah Netburn stated the public's right to access judicial records outweighs the company's privacy concerns. The decision comes as the SEC seeks nearly $2 billion in total penalties, alleging Ripple illegally sold XRP as an unregistered security. Ripple maintains that XRP is not a security and plans to appeal the ruling, arguing the disclosures could harm its competitive position. The case continues to be closely watched as a precedent-setting example of cryptocurrency regulation.