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Breaking: Ripple And SEC To Drop Appeals, Ending XRP Lawsuit

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Summary
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57% Informative

Ripple CEO Brad Garlinghouse announced that the crypto firm will drop its cross appeal against the SEC , while the Commission is expected to make a similar move.

This ends the four-year-long XRP lawsuit, which began in December 2020 .

Judge Torres had told both parties that they had the option of ending the litigation by simply dropping their appeals.

Both parties have already agreed that Ripple should pay $50 million as against the $125 million penalty that Judge Torres ordered.

VR Score

33

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18

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35

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formal

Language

English

Language complexity

34

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not offensive

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short-lived

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2

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