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Ripple Abandons Cross-Appeal Against SEC, Agrees to $125 Million Fine and Permanent Injunction

Summary: Ripple Labs CEO Brad Garlinghouse announced on social media that Ripple will abandon the cross-appeal in the case with the SEC, focusing on building the value internet. US Federal Judge Analisa Torres in New York Southern District rejected the SEC and Ripple's settlement request for a reduced $50 million fine and lifting of the permanent ...

Ripple Labs CEO Brad Garlinghouse announced on social media that Ripple will abandon the cross-appeal in the case with the SEC, focusing on building the value internet. US Federal Judge Analisa Torres in New York Southern District rejected the SEC and Ripple's settlement request for a reduced $50 million fine and lifting of the permanent injunction, citing concerns of potential future violations by Ripple.

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