High-Profile XRP Lawsuit Reaches End After SEC And Ripple Drop Their Appeals In Second Circuit ⋆ ZyCrypto
The post High-Profile XRP Lawsuit Reaches End After SEC And Ripple Drop Their Appeals In Second Circuit ⋆ ZyCrypto appeared on BitcoinEthereumNews.com. Advertisement     The U.S. Securities and Exchange Commission and Ripple Labs have jointly agreed to drop their appeals in the Second Circuit court case, concluding a nearly five-year legal tussle that has clouded XRP’s price outlook since 2020. Ripple-SEC Case Officially Ends One of crypto’s marquee court cases appears to have ended. In a joint filing dated August 7 with the U.S. Court of Appeals for the Second Circuit, the Securities and Exchange Commission withdrew its appeal, and Ripple dismissed its cross-appeal. Each party agreed to bear its own legal costs and fees. Ripple CEO Brad Garlinghouse had previously announced his company’s intention to withdraw its cross-appeal, positing in June, “We’re closing this chapter once and for all, and focusing on what’s most important — building the Internet of Value.” With both parties now formally dropping their appeals, Judge Analisa Torres’s split ruling in 2023 will remain in force as the final judgment in the suit. Judge Torres declared that Ripple’s sales of XRP to institutional investors violated federal securities laws, but took Ripple’s side on programmatic sales via public exchanges. Advertisement   “Following the Commission’s vote today, the SEC and Ripple formally filed directly with the Second Circuit to dismiss their appeals,” Ripple’s chief legal officer, Stuart Alderoty, stated in a Thursday post on X. “The end…and now back to business,” Alderoty added. The resolution finalizes a June agreement for Ripple to pay a $125 million civil penalty, which is far lower than the SEC’s initial $2 billion request. XRP Soars Over 11% The push toward the official conclusion of the appeals has been a key catalyst behind XRP’s price surge in recent months, with the cross-border payments token spiking almost 99% from a 2025 bottom of $1.79 on April 9 to an all-time high of…
The post High-Profile XRP Lawsuit Reaches End After SEC And Ripple Drop Their Appeals In Second Circuit ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement The U.S. Securities and Exchange Commission and Ripple Labs have jointly agreed to drop their appeals in the Second Circuit court case, concluding a nearly five-year legal tussle that has clouded XRP’s price outlook since 2020. Ripple-SEC Case Officially Ends One of crypto’s marquee court cases appears to have ended. In a joint filing dated August 7 with the U.S. Court of Appeals for the Second Circuit, the Securities and Exchange Commission withdrew its appeal, and Ripple dismissed its cross-appeal. Each party agreed to bear its own legal costs and fees. Ripple CEO Brad Garlinghouse had previously announced his company’s intention to withdraw its cross-appeal, positing in June, “We’re closing this chapter once and for all, and focusing on what’s most important — building the Internet of Value.” With both parties now formally dropping their appeals, Judge Analisa Torres’s split ruling in 2023 will remain in force as the final judgment in the suit. Judge Torres declared that Ripple’s sales of XRP to institutional investors violated federal securities laws, but took Ripple’s side on programmatic sales via public exchanges. Advertisement “Following the Commission’s vote today, the SEC and Ripple formally filed directly with the Second Circuit to dismiss their appeals,” Ripple’s chief legal officer, Stuart Alderoty, stated in a Thursday post on X. “The end…and now back to business,” Alderoty added. The resolution finalizes a June agreement for Ripple to pay a $125 million civil penalty, which is far lower than the SEC’s initial $2 billion request. XRP Soars Over 11% The push toward the official conclusion of the appeals has been a key catalyst behind XRP’s price surge in recent months, with the cross-border payments token spiking almost 99% from a 2025 bottom of $1.79 on April 9 to an all-time high of…
What's Your Reaction?
