Ripple fined $125 million, less than the $2 billion proposed by SEC

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Cointime2024/08/08 04:45

By:Cointime

Court documents show that Ripple has been fined $125 million in its lawsuit with the US Securities and Exchange Commission (SEC). The document signed by New York judge Analisa Torres states that the court will make a final judgment prohibiting Ripple from further violating securities laws and imposing the aforementioned fine. This amount is far lower than the proposed $2 billion by the SEC, but higher than the $10 million Ripple believed to be reasonable.Ripple CEO Brad Garlinghouse said it was a victory for Ripple, the industry, and the rule of law. An SEC spokesperson emphasized that the court approved the agency's main motion, including the injunction against Ripple's violation of securities laws.

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Coinomedia•2025/05/04 01:44