- Ripple Labs settled its long-running lawsuit with the SEC, agreeing to pay a significantly reduced fine
- Ripple drops its cross-appeal, and the SEC will seek to lift a previous injunction
- Despite the positive legal outcome, XRP’s price showed little to nil upward movement
Ripple Labs has reached an agreement with the U.S. Securities and Exchange Commission (SEC) to end their years-long legal fight. The settlement involves Ripple paying a substantially lower fine than earlier mandated.
Ripple’s Chief Legal Officer, Stuart Alderoty, announced the company would not be moving forward with its cross-appeal against the SEC’s August 2024 judgment. That judgment had ordered Ripple to pay $125 million, but under the new settlement terms, the SEC will only retain $50 million of the $125 million that was held in escrow.
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