Ripple’s Shocking Legal Move: A Settlement That Has the SEC Blushing?

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It is a truth universally acknowledged, that an enterprise in possession of ambition, must be in want of a proper settlement. In the drawing rooms of high finance, the people of Ripple—those indefatigable champions of ‘blockchain’ (a notion as elusive to some as Mr. Darcy’s affection)—have once again taken up the pen, submitting a supplemental letter, and thereby polishing their prospects of an “indicative ruling.” 🖋️

With all the poise of an Austen heroine, Ripple maintains that such a settlement would allow them to promenade on “more comparable footing” with other notable figures, whose legal waltz ended far sooner, courtesy of that ever-mercurial chaperone, the SEC. One can almost hear the gentle sarcasm as they point out—quite pointedly, as is the custom in such disputes—that others like Coinbase and Kraken were excused from the dance floor long before Ripple could even curtsy.

But hark! The SEC has now graciously agreed to reduce Ripple’s scandale to a mere $50 million trifle, and, with a flourish, lifted the American injunction that had so thoroughly dampened the spirits of institutional buyers. Shall we all applaud—or at least offer a polite golf clap? 👏

The respected Judge Analisa Torres, ever the sensible matron, has shown admirable restraint. With an air reminiscent of Lady Catherine de Bourgh forestalling further mischief, she declared herself unpersuaded by any notion of exceptional circumstances that might justify meddling with the final judgment.

And so, like two characters in a witty repartee, Ripple and the SEC have returned with yet another request—petitioning for mercy on the penalty and relief from that most stifling of injunctions. Analysts—those modern-day aunties with a keen nose for gossip—murmur that this motion could prove pivotal. One can practically hear the teacups rattling in intrigue. ☕

“Settling now (and who among us, after months of tiresome litigation, would not yearn for such a conclusion?) will spare us further drama and court expenditures,” declares the letter. Translation: Both parties would very much like to see the back of each other, preferably yesterday.

On Monday, Ripple and the SEC jointly entreated the Second Circuit to keep the appeal—much like a particularly stubborn suitor—waiting in the wings.

Should their plea fall on deaf ears, the quarrel will, no doubt, continue well into next year. Lawyers everywhere are likely preparing extra ink and perhaps some smelling salts. 💼🫖

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2025-06-18 00:01