Ripple Ordered to Pay $125,035,150 Fine in SEC Case

Aug 7, 2024, 08:16 PM

A federal judge has ordered Ripple Labs to pay a $125,035,150 civil penalty for selling its XRP token to institutional investors, concluding a nearly four-year legal battle with the U.S. Securities and Exchange Commission (SEC). The SEC had initially sought a $2 billion penalty, but the court ruled for a significantly lower amount. Judge Torres also issued an injunction restraining Ripple from further violations of securities laws. The ruling denied the SEC's demand for disgorgement, citing no losses shown by the agency.