Ripple‘s Chief Legal Officer is at it again, making some pretty sweet deals with the SEC. The XRP lawsuit is almost over, and it looks like Ripple is coming out on top.
So, here’s the deal: the SEC is gonna keep $50 million of the $125 million fine, and give the rest back to Ripple. Not bad, not bad at all.
The Ripple vs. SEC Saga Comes to a Close
This lawsuit has been a wild ride, folks. It’s been one of the most important crypto enforcement actions of Gary Gensler’s time as Chair, and now it’s finally coming to an end.
Last week, the Commission dropped its lawsuit, and now Ripple’s Chief Legal Officer is giving us the lowdown on the case. He’s calling it his “last update ever,” but we’re not buying it. There’s always another twist in this crazy world of crypto.
“Last week, the SEC agreed to drop its appeal without conditions. Ripple has now agreed to drop its cross-appeal. The SEC will keep $50 million of the $125 million fine (already in an interest-bearing escrow in cash), with the balance returned to Ripple. The agency will also ask the Court to lift the standard injunction that was imposed earlier at the SEC’s request,” he said.
So, what does this mean for XRP? Well, for starters, Ripple can now sell XRP to institutional investors. This could bring in some much-needed liquidity and partnership opportunities. And who knows, it might even improve XRP’s status as a security or commodity. The SEC was already considering Ripple’s arguments, and this move could give them some extra ammo.
But don’t get too excited just yet. XRP is still struggling to break through $2.50. And let’s be real, the altcoin market is a wild card. One day it’s up, the next it’s down. But hey, at least Ripple is coming out on top in this lawsuit.
The XRP community is still a bit concerned about the low DEX trading volume on the network. But with Ripple’s new progress with the SEC, maybe there’s hope for a turnaround. Maybe. Possibly. Hopefully.
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2025-03-25 23:16