Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Ripple Fined $125M in Lawsuit Against SEC, XRP Price Soars 20% Immediately

Ripple Fined $125M in Lawsuit Against SEC, XRP Price Soars 20% Immediately

CryptopotatoCryptopotato2024/08/06 16:00
By:Author: George Georgiev

The case between the SEC and Ripple might finally be over.

Ripple has been fined $125 million in the lawsuit against the United States Securities and Exchange Commission. This is just a fraction of what the SEC had previously asked for in the case.

The fine that Judge Analisa Torres settled on is far less than the $1 billion in disgorgement and prejudgment interest and $900 million in civil penalty the SEC sought.

XRP investors have seen this as a positive for the firm and the cryptocurrency, which exploded by more than 20% immediately after the news broke.

“The SEC’s motion for remedies and the entry of final judgment is granted in part and denied in part. […] The Court shall enter a final judgment enjoining Ripple from further violations of the securities laws and imposing a civil penalty of $125,035,150.” – Reads the filing .

Meanwhile, it’s worth noting that back in July 2023, Judge Torres found that the programmatic sales of XRP to retail clients through centralized exchanges did not violate securities laws. However, she did rule that Ripple violated securities regulations through its direct sale of XRP to institutional clients, hence the above statement.

Judge Torres also banned the company from future violations.

The story is developing. 

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

2025 TGE Survival Ranking: Who Will Rise to the Top and Who Will Fall? Complete Grading of 30+ New Tokens, AVICI Dominates S+

The article analyzes the TGE performance of multiple blockchain projects, evaluating project performance using three dimensions: current price versus all-time high, time span, and liquidity-to-market cap ratio. Projects are then categorized into five grades: S, A, B, C, and D. Summary generated by Mars AI This summary was generated by the Mars AI model, and the accuracy and completeness of its content are still being iteratively updated.

MarsBit2025/11/28 16:26
2025 TGE Survival Ranking: Who Will Rise to the Top and Who Will Fall? Complete Grading of 30+ New Tokens, AVICI Dominates S+

Mars Finance | "Machi" increases long positions, profits exceed 10 million dollars, whale shorts 1,000 BTC

Russian households have invested 3.7 billion rubles in cryptocurrency derivatives, mainly dominated by a few large players. INTERPOL has listed cryptocurrency fraud as a global threat. Malicious Chrome extensions are stealing Solana funds. The UK has proposed new tax regulations for DeFi. Bitcoin surpasses $91,000. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively updated by the Mars AI model.

MarsBit2025/11/28 16:26
Mars Finance | "Machi" increases long positions, profits exceed 10 million dollars, whale shorts 1,000 BTC

How much is ETH really worth? Hashed provides 10 different valuation methods in one go

After taking a weighted average, the fair price of ETH exceeds $4,700.

ForesightNews 速递2025/11/28 15:05
How much is ETH really worth? Hashed provides 10 different valuation methods in one go

Dragonfly partner: Crypto has fallen into financial cynicism, and those valuing public blockchains with PE ratios have already lost

People tend to overestimate what can happen in two years, but underestimate what can happen in ten years.

深潮2025/11/28 14:53
Dragonfly partner: Crypto has fallen into financial cynicism, and those valuing public blockchains with PE ratios have already lost