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Ripple pays penalty greater than $102.6 million by end of 2024?
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SEC Reduces Ripple Penalty Demand to $102.6 Million, Down from $2 Billion
Jun 16, 2024, 01:05 AM
The U.S. Securities and Exchange Commission (SEC) has significantly reduced its penalty demand from Ripple Labs in the ongoing lawsuit concerning the sale of XRP. Initially, the SEC sought $2 billion, but it has now revised this figure to $102.6 million. The SEC's argument against Ripple's comparison to the Terraform Labs settlement is based on the fact that Terraform is in bankruptcy and agreed to severe penalties, unlike Ripple. Ripple has defended itself, stating that it has agreed to no penalties and that there are no victims to compensate. The court has clarified that XRP is not considered a security. Ripple is thriving despite the legal challenges.
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