Posted 10/26/2023, 1:19:00 PM
SEC Seeks $770M From Ripple Over XRP Sales, Long Legal Battle Expected
- SEC demands $770 million settlement from Ripple Labs over XRP sales
- Violations of Federal Securities Laws related to institutional sales of XRP cryptocurrency alleged
- Extensive negotiation process anticipated involving examining documents and transactions
- Ripple figures @bgarlinghouse and @chrislarsensf expected to challenge fee, possibly prolonging case
- Speculation about potential SEC appeal under Gary Gensler's leadership, despite previous denial