Is The Ripple vs. SEC Lawsuit Indeed Over After This Development?
Last week, Ripples CEO, Brad Garlinghouse, made the triumphant announcement that the SEC had dropped its appeal without conditions.
Although he declared that this meant the case was finally over after a prolonged battle that began in late 2020, there were some misconceptions and misunderstandings about whether it had actually concluded. Now, though, Stuart Alderoty cleared the air.
The final crossing of ts and dotting of is and what should be my last update on SEC v Ripple ever
Last week, the SEC agreed to drop its appeal without conditions. @Ripple has now agreed to drop its cross-appeal. The SEC will keep $50M of the $125M fine (already in an
Stuart Alderoty (@s_alderoty) March 25, 2025
Recall that US courts slapped Ripple last year with a $125 million penalty regarding XRPs unclear status. However, the agency appealed as it initially sought $2 billion, which was far off before it withdrew its filing last week.
Now, though, Ripples Chief Legal Officer, Stuart Alderoty, informed that Ripple has also agreed to drop its cross-appeal. This means that the Securities and Exchange Commission will keep even less than half of the $125 million the courts ordered just $50 million.
Alderoty informed that the amount is already in an interest-bearing escrow account in cash. The remaining $75 million will be returned to Ripple.
Although this is now subject to Commission vote, Alderoty seems convinced that this is the end of the lawsuit as he said this would be his last update on the topic, ever.
Unlike last weeks immediate surge after Garlinghouses announcement, when XRP jumped from $2.3 to $2.6 in minutes, this time, the asset remains relatively calm. It has failed to break above the $2.5 resistance and remains inches below it.
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