It’s been a dizzying 24 hours, even by the standards of Ripple, the founder of the XRP Ledger, with three unrelated pieces of news. While the CEO confirmed an end to litigation with the SEC in March, the SEC announced the terms yesterday. Separately, the company announced an investment in pharmaceutical logistics firm Wellgistics, providing a $50 million Equity Line of Credit. Plus, Politico reported that a lobbying firm was in hot water for drafting President Trump’s social media post that included XRP in a government crypto reserve.
The SEC sued Ripple claiming XRP is a security. Last year a judge found in favor of both parties. Sales of XRP to institutional investors were considered sales of unregistered securities, for which Ripple was fined $125 million. But sales to retail investors via exchanges were not considered securities sales.
In the final settlement, both parties are dropping their appeals and the fine of $125 million has been reduced to an agreed $50 million.
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