Ripple CEO Confirms End of SEC Lawsuit, Will Black

Brad Garlinghouse announces that the SEC and Ripple will drop their respective appeals, effectively bringing their protracted litigation to a close. 

Garlinghouse, the CEO of Ripple, announced the development a few hours after U.S. District Judge Analisa Torres denied the parties’ joint motion for an indicative ruling. 

As previously reported, the judge denied the parties’ joint motion seeking to modify the final judgment by reducing the penalty from $125 million to $50 million and lifting the permanent injunction imposed on Ripple’s future XRP sales to institutions.

In the latest verdict, Judge Torres urged the parties to either continue their appeals in the Second Circuit or withdraw them and accept her final judgment.