Ripple and SEC Bury the Hatchet! You Won't Believe Who Gets the Money Back 💰

Well now, folks, gather ‘round and listen close, ‘cause the tale I’m about to unfold’s got more twists than the Mississippi in flood season. Seems the United States SEC—those fine folks who fuss about everyone’s money troubles—just dropped a letter on Judge Analisa Torres, way up yonder in New York. The letter doesn’t cuss, but it sure does admit defeat: they shook hands (or maybe just grumbled) on a settlement with Ripple, that blockchain gang who’s been harder to catch than a greased cat in a rainstorm.

Now, the letter politely nudges Judge Torres, saying, “Would you kindly give us a hint how you’d rule?”—a bit like asking your schoolteacher if you might pass, before turning in the test. 😊

The Second Circuit—bless their overworked hearts—told everyone to pause and breathe while the real grown-ups tried to patch things up. Once they decide whose porch this squabble should end on, the district court gets to stomp its official seal of approval on this whole rigmarole.

Rumor has it (and by rumor, I mean the very same letter!) that both Ripple and the SEC will be able to drop their appeals faster than you can drop a hot potato—just as soon as they’re done wrangling in court.

Here’s the nitty-gritty: Ripple’s supposed to pay a penalty. Used to be a chest-thumping $125 million, but now it’s a mere $50 million—a sum that, in these circles, doesn’t even buy a decent yacht. The leftovers? Why, they’re sliding straight back to Ripple. And that old injunction Judge Torres hit ‘em with last August? Say your goodbyes, it might just drift down river too.

Before this whole shebang gets shipped from the Court of Appeals, the district’s got to declare if they’ll kill off that injunction and trim the penalty. Some call that progress; some call it bureaucracy with extra steps.

And finally, both sides with a handshake and a nod, promised not to bother Judge Torres’s summary judgment from way back in July 2023. Perhaps because poking sleeping bears is seldom good sport. 🐻

2025-05-08 23:37

Ripple and SEC Bury the Hatchet! You Won’t Believe Who Gets the Money Back 💰

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