The Securities and Exchange Commission (SEC) is seeking $770 million from Ripple to settle the XRP case. The attorney representing Ripple claims that the SEC is “pissed and embarrassed” after its charges were denied and dismissed. The attorney further explains that the current “penalty phase” requires additional legal proceedings. Ripple aims to reduce the fine by excluding on-demand liquidity transactions and cutting costs. The final verdict is not expected until late summer 2024, and it could take another year for an appeal to be filed. Ripple may face significant legal expenses in the meantime. The article also includes information about a crypto exchange.
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