SEC and Ripple Team Up to Unlock $125M in Escrow: A Twist You Won’t Believe!

by

Here’s the scoop:

  • The SEC and Ripple have filed a joint motion to release the $125 million civil penalty held in escrow.
  • Under the proposal, $50 million would go to the SEC, and $75 million would be returned to Ripple.
  • The motion cites changing regulatory attitudes and aims to avoid further litigation and settle outstanding appeals.

In a move that’s sure to leave you scratching your head, the SEC and Ripple have joined forces to close the book on one of crypto’s longest-running legal battles. The duo has filed a motion in Manhattan federal court to dissolve the injunction in their case and release the $125 million civil penalty currently held in escrow.

Under the proposal, $50 million would go to the SEC, while the remaining $75 million would be returned to Ripple. The motion, filed under Federal Rules 60(b)(6) and 62.1, cites “exceptional circumstances” as grounds for reopening the final judgment, pointing to changing regulatory attitudes at the SEC and a shared desire between both parties to avoid further litigation.

The move also aims to settle outstanding appeals in the Second Circuit and avoid prolonging the case into another year of courtroom wrangling. The case, initially filed in 2020, accused Ripple of conducting $1.3 billion in unregistered XRP sales.

A court-approved final settlement would remove any remaining lingering legal uncertainty, in a further boost to the already in-demand XRP token. So, grab your popcorn and get ready for the unexpected twist in this crypto legal drama! 🍿

Read More

2025-06-13 12:30