SEC Seeks Nearly $2 Billion Penalty Against Ripple for Illegal XRP Sales

• SEC seeks $1.95B fine against Ripple Labs in final judgment • Fine includes $876M disgorgement, $198M interest, and $876M civil penalty • Lawsuit filed in 2020 alleges Ripple violated securities laws in XRP sales • Judge ruled Ripple's sales to institutions violated laws, not sales on exchanges • Ripple will file response to SEC's motion by April 22, calls fine amount "overreaching"