Ripple Finally Strikes a Deal with SEC, Gets $75M Back – No More Legal Drama?

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After what feels like an eternity of courtroom drama, Ripple Labs has finally reached a settlement with the US Securities and Exchange Commission (SEC). The saga, which has kept the world on the edge of its seat, was all about whether Ripple’s token, XRP, should be classified as a security. Spoiler alert: The answer’s still not crystal clear, but the outcome is less dramatic (for now).

SEC Settlement: The Light at the End of the Tunnel?

So, what’s the big deal? Well, according to a very official-sounding announcement by the SEC on Thursday, Ripple Labs, CEO Brad Garlinghouse, and Executive Chairman Christian A. Larsen are all breathing a little easier these days. They’ve come to a “framework” agreement, which might just be the silver lining Ripple has been waiting for after years of legal battles. Who needs clarity anyway, right? 🤷‍♂️

The official filing says that Ripple and the SEC will ask the district court to throw out the injunction that’s been hanging over the company like the Sword of Damocles. Ah, yes, the injunction – which was born from the judgment of August 7, 2024, that slapped Ripple with a hefty $125 million fine. But here’s the kicker: Ripple only has to pay $50 million, and the rest? Well, that’s coming back to them. Gotta love a good refund! 🤑

What Happens Next? A Legal Soap Opera Continues

Now, don’t get too comfortable just yet. The settlement is still waiting on the district court’s thumbs-up to dissolve that pesky injunction. Once they get the green light, Ripple and the SEC will head to the court for a “limited remand.” Yeah, sounds like something out of a legal thriller, doesn’t it?

And don’t forget about those appeals currently floating around in the US Court of Appeals for the Second Circuit. They’ll be ditched soon enough, just like that pile of unresolved legal drama we’ve all been pretending to care about for the last couple of years. 🔥

The SEC isn’t exactly admitting Ripple is innocent, though. No, no – this settlement is all about reforming the SEC’s cryptocurrency approach, whatever that means. But hey, they’ll take it, right?

In the world of XRP, things are looking a bit brighter today. Trading at $2.30, the cryptocurrency is up 7% in the last 24 hours. A bit of a victory lap, if you ask me. 🎉

 

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2025-05-09 03:16