Ripple vs. SEC: Legal Battle Concludes with $125 Million Payment
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Resolution Reached in Ripple vs. SEC Case
In a significant development, former SEC attorney Marc Fagel has announced that the contentious legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC) has come to a close. Ripple has paid a monetary penalty of $125 million to the U.S. Treasury, marking the end of this protracted legal saga.
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Payment Details Confirmed
According to Fagel’s post on X, the penalty was paid last month, backed by a letter addressed to Judge Analisa Torres. The letter confirmed that both parties agreed to release the funds from escrow, allowing Ripple to fulfill the court-ordered payment along with statutory interest. The SEC provided the necessary wire transfer instructions, and Ripple’s bank executed the payment. The remaining funds were returned to Ripple, officially concluding the legal proceedings.
Appeals Dismissed, Settlement Reached
This payment follows the motion to dismiss appeals by both parties, which was approved by the Court of Appeals last month. The $125 million had been held in escrow while Ripple and the SEC filed their respective appeals. The move was intended to protect Ripple from paying a potentially reduced sum. However, with the SEC’s administration showing a more favorable stance towards crypto under Trump, a settlement was reached. Despite this, Judge Torres required Ripple to pay the penalty, leading both parties to drop their appeals and comply with the judgment.
Ripple vs. SEC: No Longer Affecting XRP Price
Legal analyst Bill Morgan highlighted that the conclusion of the Ripple vs. SEC lawsuit should no longer be used as an excuse for XRP’s market performance. While the lawsuit’s resolution initially caused XRP prices to surge to $3.4, the cryptocurrency has since stabilized below this peak.
Current Market Trends
Amid a broader market correction, XRP prices have been on a downward trajectory, closely mirroring Bitcoin’s movements. Morgan stressed that despite several positive developments for XRP, its price has not reflected these fundamentals. At present, XRP is trading around $2.87, according to CoinMarketCap data.
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