Ripple Withdraws Appeal Against the SEC, Ending a Five-Year Legal Battle

Ripple's CEO, Brad Garlinghouse, announced on the 28th that they are withdrawing their appeal against the U.S. Securities and Exchange Commission (SEC). In a post on X, he stated, 'We are withdrawing our appeal, and the SEC plans to do the same,' indicating their intention to put an end to the nearly five-year legal battle. This announcement follows a decision made on the 26th by Judge Analisa Torres of the New York Federal District Court. The judge rejected a joint request by both parties for a 60% reduction of a $125 million civil penalty and the lifting of an injunction, citing 'public interest.' Ripple and the SEC had been in dispute over $125 million in an escrow account since June 12...