Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: NotATether on August 08, 2024, 01:25:52 PM
-
Judge Torres has made her final ruling in the SEC vs Ripple case, with a judgement that Ripple must pay fines/ penalties of just over 125 million dollars. This is much less than the 2 billion dollars the SEC was asking for.
This means the case is now over, though either side can appeal. If that happens, it could take a couple of years to resolve. However, the SEC cannot appeal the ruling that XRP is inherently not a security.
https://www.courtlistener.com/docket/19857399/securities-and-exchange-commission-v-ripple-labs-inc/?filed_after=&filed_before=&entry_gte=&entry_lte=&order_by=desc#entry-974
So this verdict says, that XRP is not a security, but that Ripple has to pay over $125 million to the SEC, for what exactly?
I do not like Ripple Labs in any capacity, but the SEC is not endearing themselves to anybody with these kind of rulings.
I don't think I'm going to take any sides on this, but I think it's verify likely that one of these parties will appeal.
-
Compared to the original price, I think that is better. I guess it’s just a fine that they sold XRP without the clearing from the SEC.
They would pay for it if they want to deal with it first. If not, I believe an appeal would be ideal, but it would again take a long time.
I Believe paying is better so it would be easier for them.
-
~
So this verdict says, that XRP is not a security, but that Ripple has to pay over $125 million to the SEC, for what exactly?
It's for the sales of XRP to institutional investors. Remember that the previous ruling states that sale to retail investors is not a violation of securities laws but for institutional sales, it is.
CMIIW but since SEC did not contest the above ruling, I don't think they will appeal on the penalty. Ripple will most likely just pay to end this long battle.
-
I also believe that Ripple will pay to end this long battle that has taken years, and also $125 million is not a problem for Ripple and is much less than the $2 billion that the SEC was demanding.
Although I did not fully understand if the ruling was in Ripple's favor, why should it pay a $125 million fine? But in my opinion, Ripple fought very well and did not give up and won the battle that threatened its existence.
-
Compared to the original price, I think that is better. I guess it’s just a fine that they sold XRP without the clearing from the SEC. They would pay for it if they want to deal with it first. If not, I believe an appeal would be ideal, but it would again take a long time. I believe paying is better so it would be easier for them.
The judge on this case made a win-win formula where both sides can claim victory. And at the end of the day, XRP can easily pay the $125 million fine and can go on with its business as a non-security which is, for me, the most important aspect of this case. SEC can claim that it got what it wanted with the money imposed on Ripple though it is a far cry from the 2 billion it was seeking but SEC knows it can not get all the things it wanted, in the first place. As what I am reading on the news, both parties are doing the victory lap dance so this is a very good ending for this very landmark case for the cryptocurrency industry. I am hoping that XRP will start to grow at remained stagnant for so many months now.
-
$125M is peanuts for Ripple Labs. They've made lots of money manipulating prices for a long time. Victory for XRP because the SEC couldn't appeal on same argument and this could a way for XRP to have ETF in the future right?
SEC losing against XRP would also mean, the altcoins could also be commodities. Lots of changes that will come into because of this victory.
-
Aside from the fee, it's surprising Ripple manage to secure statement "XPR isn't security", when XRP is centralized (due to trusted validator).
-
I believe xrp got a favorable judgement, that they are not a security, the fine should be nothing to them and they are surely going to pay it, i don't see them appealing that. Neither do i think the sec would appeal the judgement of the fine imposed on xrp, since they cannot appeal the verdict that they are not a security.
-
Compared to the original price, I think that is better. I guess it’s just a fine that they sold XRP without the clearing from the SEC.
They would pay for it if they want to deal with it first. If not, I believe an appeal would be ideal, but it would again take a long time.
I Believe paying is better so it would be easier for them.
I think an appeal won't do any good to XRP the price is no doubt lesser one than the demand but still a business owner always tries to negotiate but if he thinks that's the lowest a judge will go then it means there will be no appeal.
Why do you think another appeal would take a long time, and what's bad in a long time too I mean did this cause any problems for Ripple?
Don't get me wrong I actually did not read the story about Ripple and the SEC case but by reading some replies I get that they were not registered with the SEC and the SEC sued them. So what's really causing problems even if the case is on did they halt their work.
-
Why do you think another appeal would take a long time, and what's bad in a long time too I mean did this cause any problems for Ripple?
It would take a very long time because litigations of this nature takes a lot of time, the just concluded case took a very long time before the court was able to reach a verdict, the case has been on since 2020, if i remember correctly. An appeal would follow that pattern.
-
Aside from the fee, it's surprising Ripple manage to secure statement "XPR isn't security", when XRP is centralized (due to trusted validator).
its a stunning decision.
and likely will result in the 2025/2026 crash of the cryptomarket.
I am more and more cynical and see this as more evidence that crypto is used as a yoyo to manipulate the stock markets.
-
It would take a very long time because litigations of this nature takes a lot of time, the just concluded case took a very long time before the court was able to reach a verdict, the case has been on since 2020, if I remember correctly. An appeal would follow that pattern.
I think the longevity of the case proved to be in favor of Ripple as the fine has been reduced from $2 Billion (requested by SEC) to $123 million which is very affordable for Ripple.
But still if the case go for another year maybe the fine will reduce more. That's why I asked what's bad in delaying the case as it brought some benefit for the XRP on the table maybe it could being more haha.
So what's really harming Ripple if the case goes further long?
-
It's for the sales of XRP to institutional investors. Remember that the previous ruling states that sale to retail investors is not a violation of securities laws but for institutional sales, it is.
Imagine being an institution that's paying for XRP but you know that XRP can't even manage long-term gains, let alone short-term ones.
I'm curious to know what any sort of investor is thinking about holding this right now, because clearly XRP can't even manage to turn a profit, so it has no business being a top-5 coin.
-
$125M is peanuts for Ripple Labs. They've made lots of money manipulating prices for a long time. Victory for XRP because the SEC couldn't appeal on same argument and this could a way for XRP to have ETF in the future right?
They can appeal the ruling and try to reduce the amount or gain more years before paying it but I don't think the SEC is as enthusiastic about crypto as it was in the past.
Check out the press-releases over the past year and the last 4 months and you'll see that they've talked less about crypto. ------> https://www.sec.gov/newsroom/press-releases?page=3
-
They can appeal the ruling and try to reduce the amount or gain more years before paying it but I don't think the SEC is as enthusiastic about crypto as it was in the past.
Check out the press-releases over the past year and the last 4 months and you'll see that they've talked less about crypto. ------> https://www.sec.gov/newsroom/press-releases?page=3
I think they've started to realize that going after all those crypto companies that are violating securities regulations as well as the influencers promoting them is a money drain, because they fail to actually catch most of them.
That, and the SEC probably trying to stay out of the election cycle news by avoiding any talk about crypto :)
-
I think they've started to realize that going after all those crypto companies that are violating securities regulations as well as the influencers promoting them is a money drain, because they fail to actually catch most of them.
That, and the SEC probably trying to stay out of the election cycle news by avoiding any talk about crypto :)
I think it started since the acceptance of BTC ETF as from March 14th till today they talked about it once while last year they were very active. On March 14th there was no clear direction from Trump towards cryptocurrencies.
-
Although I did not fully understand if the ruling was in Ripple's favor, why should it pay a $125 million fine?
Why the must pay $125 million?
According to some media, they were accused "selling XRP token improperly to institutional investors".
Ripple Labs Inc. was ordered by a federal judge to pay a civil penalty of $125 million for improperly selling its XRP token to institutional investors, a fraction of what US regulators had sought in a long legal battle with the cryptocurrency company.
Source: https://www.bloomberg.com/news/articles/2024-08-07/ripple-labs-is-ordered-to-pay-125-million-penalty-in-sec-case
But in my opinion, Ripple fought very well and did not give up and won the battle that threatened its existence.
I agree Ripple has done their best in the court. At least they can decrease the amount of the fines. They are demanded to pay $2 billion, but they finally only pay $125 million. I hope the accusation is over now, Ripple can continue their development again. There is still enough time to grow until the peak of this bullrun season.
-
I think the longevity of the case proved to be in favor of Ripple as the fine has been reduced from $2 Billion (requested by SEC) to $123 million which is very affordable for Ripple.
But still if the case go for another year maybe the fine will reduce more. That's why I asked what's bad in delaying the case as it brought some benefit for the XRP on the table maybe it could being more haha.
So what's really harming Ripple if the case goes further long?
The fine doesn't depend on time but on the settlement process between Ripple and the SEC, and I think this outcome is very good for Ripple after they won in proving that XRP is not a security.
Ripple also needs to end this lawsuit to help XRP escape the shadow of the legal case in the crypto market. This is a necessary condition for XRP to be able to increase in price in this bullrun after unfortunately missing the bullrun 2021. I hope XRP price will recover and increase soon thanks to the optimism in investor sentiment.
-
I agree Ripple has done their best in the court. At least they can decrease the amount of the fines. They are demanded to pay $2 billion, but they finally only pay $125 million. I hope the accusation is over now, Ripple can continue their development again. There is still enough time to grow until the peak of this bullrun season.
Yes, they have enough time and great potential for development, I think this ruling will give them a great incentive to continue working and grow more.
If Ripple had lost the case, the company and its XRP coin would have ceased to exist, but now they can return to the market strongly and restore the trust that they almost lost due to this long case.
-
It would take a very long time because litigations of this nature takes a lot of time, the just concluded case took a very long time before the court was able to reach a verdict, the case has been on since 2020, if I remember correctly. An appeal would follow that pattern.
I think the longevity of the case proved to be in favor of Ripple as the fine has been reduced from $2 Billion (requested by SEC) to $123 million which is very affordable for Ripple.
But still if the case go for another year maybe the fine will reduce more. That's why I asked what's bad in delaying the case as it brought some benefit for the XRP on the table maybe it could being more haha.
So what's really harming Ripple if the case goes further long?
Well Trump wins the election and goes after ripple to support BTC.
Ripple should take the win now and not be greedy.
-
Yes, they have enough time and great potential for development, I think this ruling will give them a great incentive to continue working and grow more.
Sure, the altcoins season is predicted to happen in the next year, there is still few months for XRP to grow. The success against SEC will boost the motivation of Ripple team to succeed building XRP future. I am really curious about the plans of Ripple team to grow XRP.
If Ripple had lost the case, the company and its XRP coin would have ceased to exist, but now they can return to the market strongly and restore the trust that they almost lost due to this long case.
Indeed. If Ripple defeated by SEC in the court, XRP will be in a big trouble. I am very sure that the investors gradually leave XRP, they move their funds to other altcoins. But the news of XRP wins in the court, will make the investors to be confident again. They will keep their investment in XRP.
-
$125 million?. That's a joke for Ripple, like the coins that fall out of our pockets (although I never find any) when we sit on the couch. I hope that for Ripple pride is not stronger than reason and they pay the fine, I think it would be the smartest thing they could do considering that the amount is much lower than that previously demanded. If it all ends here, with the payment of that “small” amount, it could be said that Ripple has won with one of the best results it could have obtained.
I don't think either side is interested in dragging this out much longer, but there's also a chance (particularly the SEC) that they could appeal and start over.
-
It's for the sales of XRP to institutional investors. Remember that the previous ruling states that sale to retail investors is not a violation of securities laws but for institutional sales, it is.
Imagine being an institution that's paying for XRP but you know that XRP can't even manage long-term gains, let alone short-term ones.
I'm curious to know what any sort of investor is thinking about holding this right now, because clearly XRP can't even manage to turn a profit, so it has no business being a top-5 coin.
Who knows what their strategy is but now that the case is over and Ripple basically came out as a winner, some of them might be thinking it's worth the wait. If they participated during the private funding stage, they can still sell their holdings on an exchange.
-
The ruling and outcome of the ongoing legal battle between Ripple Labs and the SEC over XRP is really important in the crypto space. The ruling states that XRP itself is not a security, but that Ripple Labs must pay more than $125 million to the SEC. The fine is for some of Ripple's past activities, specifically when Ripple Labs sold XRP to investors, which the SEC claimed violated securities laws. Part of this long-running legal battle between Ripple and the SEC was how Ripple marketed XRP and sold XRP to investors. sold to The SEC claimed that Ripple offered unregistered securities through the sale, which legally violated regulations. Although the court ultimately decided that XRP itself is not a security, Ripple's past activities fell within the regulator's claims.
-
$125 million?. That's a joke for Ripple, like the coins that fall out of our pockets (although I never find any) when we sit on the couch. I hope that for Ripple pride is not stronger than reason and they pay the fine, I think it would be the smartest thing they could do considering that the amount is much lower than that previously demanded. If it all ends here, with the payment of that “small” amount, it could be said that Ripple has won with one of the best results it could have obtained.
I don't think either side is interested in dragging this out much longer, but there's also a chance (particularly the SEC) that they could appeal and start over.
This is a huge victory for Ripple against the SEC, and $125M is a small amount compared to Ripple's financial potential. $125M is even less than the costs Ripple has incurred for this 4-year lawsuit, around $200M, I know Ripple will gladly pay to confirm their win.
This lawsuit has made XRP a less attractive token for investors over the past 4 years. It has been delisted and relisted on many exchanges, becoming a prime example of a token that failed in the bullrun 2021 when it couldn't create a new ATH. I hope Ripple can do something with its marketing network to bring XRP back as one of the most promising tokens with real utility in the financial market.
- Ripple will have spent $200 million fighting SEC lawsuit, CEO says (https://www.cnbc.com/2023/05/08/ripple-will-have-spent-200-million-fighting-sec-lawsuit-ceo-says.html)
-
I think the longevity of the case proved to be in favor of Ripple as the fine has been reduced from $2 Billion (requested by SEC) to $123 million which is very affordable for Ripple.
But still if the case go for another year maybe the fine will reduce more. That's why I asked what's bad in delaying the case as it brought some benefit for the XRP on the table maybe it could being more haha.
The fine they received in the verdict had nothing to do with how long the case had lasted, i don't really know how you came up with that. Litigations of this type takes a lot of time to sort out and it should be tiring for both parties involved.
Take note that the fine was also never 'reduced', because this is the first and only fine they have received on this case, what the plaintiff was requesting doesn't matter, because it is still up to the judge to give the verdict, which they did.
-
The fine they received in the verdict had nothing to do with how long the case had lasted, i don't really know how you came up with that. Litigations of this type takes a lot of time to sort out and it should be tiring for both parties involved.
Take note that the fine was also never 'reduced', because this is the first and only fine they have received on this case, what the plaintiff was requesting doesn't matter, because it is still up to the judge to give the verdict, which they did.
Dear case opened in 2020 and after 3 years in 2023, a significant development occurred to the allegations made by SEC that it's an unregistered security and now we are suing them for like $2 billion. But after the long case in 2023, the development was: They declared it a security when traded to institutional investors but when traded on exchanges it is not regarded as security.
What if in another 3 years, another significant development occurs or maybe till the result of the elections they won't pay the fine in the hope that maybe the SEC and CFTC administration will change and new rules for securities and commodities introduced? That can happen and if it really happens then they won't even have to pay the $ 125 million if in the future they are regarded as commodities. However, if XRP is regarded as a Commodity that would be a big milestone for them. I know this is the first official fine but SEC demanded for $2 Billion and I never meant to say the first fine was $2 Billion (officially).
-
After facing many challenges. The $125 million fine for Ripple, although part of the ruling was in their favor, may be part of a compromise to end the legal battle quickly and avoid further costs or risks. Ripple has survived a long battle and has managed to maintain its existence despite facing major challenges, which is said to prove its strong position.
-
This is a huge victory for Ripple against the SEC, and $125M is a small amount compared to Ripple's financial potential. $125M is even less than the costs Ripple has incurred for this 4-year lawsuit, around $200M, I know Ripple will gladly pay to confirm their win.
This lawsuit has made XRP a less attractive token for investors over the past 4 years. It has been delisted and relisted on many exchanges, becoming a prime example of a token that failed in the bullrun 2021 when it couldn't create a new ATH. I hope Ripple can do something with its marketing network to bring XRP back as one of the most promising tokens with real utility in the financial market.
- Ripple will have spent $200 million fighting SEC lawsuit, CEO says (https://www.cnbc.com/2023/05/08/ripple-will-have-spent-200-million-fighting-sec-lawsuit-ceo-says.html)
It is true that it is a victory for them, and it would be stupid and a very serious mistake for Ripple to continue with the case for not paying such a “small” amount. The result, in addition to continuing to fight in court longer, could be a much larger fine. At least now they will have a clearer mind to continue in a more focused way. As for listing on exchanges, I don't think it's a big deal, getting back on those exchanges shouldn't take long after seeing the judge's verdict. So we can say that XRP will enjoy a new “beginning”.
Without the weight of the SEC on its shoulders and a market that is not favorable but also not negative, Ripple can make XRP shine again and we may see a new ATH at the right time.
-
Imagine seeing a company that does something illegal enough to pay 125 million dollars, and still buying their product. I mean I can't say its unheard of, Binance paid a lot and I still used the exchange, so who am I to judge others, but this isn't an exchange is it? Its a project, so these people who did something wrong, asks you to trust them with your money as an investment, so it would be equal to investing into BNB, not using binance and I do not have any bnb anymore. Just realize already that they are not legit, its been a decade and they haven't done anything to prove otherwise, they are just bad.
-
$125 million?. That's a joke for Ripple, like the coins that fall out of our pockets (although I never find any) when we sit on the couch. I hope that for Ripple pride is not stronger than reason and they pay the fine, I think it would be the smartest thing they could do considering that the amount is much lower than that previously demanded. If it all ends here, with the payment of that “small” amount, it could be said that Ripple has won with one of the best results it could have obtained.
I don't think either side is interested in dragging this out much longer, but there's also a chance (particularly the SEC) that they could appeal and start over.
I don't think that SEC will not comeback again after receiving the fine from Ripple. It is already on record that the law suit has been decided and closed. Ripple are free to go about their project developments,
In addition, it has actually slow down Ripple progress all this years, and i think with conclusion of the law suit, Xrp coin will now compete with other projects on the crypto market.
-
I wonder if xrp could get a refund down the road on this.
Trumpeter is giving fired soldiers their backpay and letting them come back to work.
This was about 1000 soldiers fired over refusing a legal order to take the vaccine for covid.
-
I don't think that SEC will not comeback again after receiving the fine from Ripple. It is already on record that the law suit has been decided and closed. Ripple are free to go about their project developments,
In addition, it has actually slow down Ripple progress all this years, and i think with conclusion of the law suit, Xrp coin will now compete with other projects on the crypto market.
It is possible, but the tentacles of the SEC are many and very long, so I do not trust at any time that everything will be 100% finished. Now with Trump back in power it seems that things are going to change for cryptocurrencies, and possibly these “persecutions” will not be as frequent as in past years or at least they will not have as much impact on companies, as is the case of Ripple. What is clear is that Ripple is experiencing a renaissance with XPR and the revaluation it has been receiving for a few weeks and is about to launch new products. This is always positive and a good sign of the company's performance.
-
~
I don't think that SEC will not comeback again after receiving the fine from Ripple. It is already on record that the law suit has been decided and closed. Ripple are free to go about their project developments,
In case you didn't know yet, SEC recently an appeal to challenge the court's decision. I think their new arguments will not be enough to overturn the decision but it's still a pain in the ass for Ripple because they have to prepare for another legal battle. It could be short this time tough and in Ripple's favor.
-
In case you didn't know yet, SEC recently an appeal to challenge the court's decision. I think their new arguments will not be enough to overturn the decision but it's still a pain in the ass for Ripple because they have to prepare for another legal battle. It could be short this time tough and in Ripple's favor.
i do not know how much seriously will the sec take this appeal under the new administration they might not even continue the appeal in favor of xrp and the usa now is entering a new era where they are trying to be a crypto friendly country and constantly drilling onto crypto projects will not help that purpose