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Crypto prices today: Bitcoin (BTC) price maintains a hold above $57K despite encountering significant turbulence over the past day. The Ripple Labs-backed crypto XRP's price gained nearly 20% against the backdrop of Judge Torres' latest ruling on the SEC's motion for remedies.
Federal judge's penalty is significantly lower than SEC's $1.9 billion demand; injunction also imposed.
XRP price started a major increase above $0.500 after court's ruling. The price is up over 25% and eyes more upsides above the $0.640 resistance.
Whales have recently executed a massive transfer of XRP tokens. Over the past 24 hours, a staggering 157 million XRP tokens, valued at approximately $75.05 million, were shifted from centralized exchanges (CEXes) to undisclosed wallets.
A federal judge ordered Ripple Labs to pay $125 million for violating securities laws by selling XRP tokens to institutional investors, a significant reduction from the SEC's $1.9 billion demand.
US federal judge Analisa Torres has ordered Ripple Labs to pay a $125 million penalty for selling its XRP token without proper registration. Despite the hefty fine, Ripple emerged with a much smaller financial burden than the Securities and Exchange Commission (SEC) initially sought, nearly $2 billion.
Ripple has unveiled its plan to partner with the Dubai International Financial Centre (DIFC) Innovation Hub to promote blockchain and crypto adoption in the UAE. The collaboration seeks to encourage innovation among early-stage companies and large institutions.
Ripple Labs has entered into a partnership with the DIFC Innovation Hub, part of the Dubai International Financial Centre, as detailed in an official press release on Wednesday.
After nearly four years of fighting the United States Securities and Exchange Commission (SEC), Ripple Labs, a blockchain payment company, has received much-needed clarity from the court on XRP sales.
XRP's price has surged 26% as the Ripple vs. SEC case appears to be nearing its final stages, with no signs suggesting that XRP will be classified as a security.
Payment-focused cryptocurrency XRP (CRYPTO: XRP) soared 15% Wednesday after Ripple Labs was handed a $125 million fine by a federal judge, a penalty far less than the $1.9 billion that the SEC had sought. What Happened: In a major development in the three-and-a-half-year-old legal battle, District Judge Analisa Torres of the Southern District of New York imposed the fine and an injunction against future securities law violations on Ripple, according to a CoinDesk report.
Ripple Labs has been ordered by a Manhattan court judge to pay the U.S. Securities and Exchange Commission about $125 million in penalties over charges of improperly selling the cryptocurrency XRP, according to a court filing.
At the time of writing, XRP is trading at $0.6024, up 18.15% in the last 24 hours. Ripple will be fined $125,035,150 and the court will issue a final judgment.
Ripple's $125M penalty in the SEC lawsuit drives XRP surge, with investors eyeing potential appeals and market impact.
Ripple Labs has finally wrapped up its long legal battle with the SEC. The company was hit with a $125 million civil penalty for selling its XRP token to institutional investors without registering it as a security.
As part of its multi-year-long litigation with the U.S. Securities and Exchange Commission (SEC), a New York court on Wednesday ordered fintech company Ripple to pay a $125 million fine after finding in July 2023 that its institutional sales of XRP broke federal securities laws.
Tuesday's promising crypto market rebound fell flat on Wednesday, with most major cryptos trading in the red versus 24 hours ago per CoinMarketCap, and investors scouring altcoin markets in their hunt for top crypto performers today.
Leading blockchain payments firm Ripple has struck a deal with the DIFC Innovation Hub in Dubai.
Ripple has been hit with a $125 million fine in its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC), a far smaller amount than the SEC's original demand.
Blockchain solutions provider Ripple Labs was ordered by a federal judge to pay a civil penalty of $125 million in a case brought by the Securities and Exchange Commission (SEC) and centered on the company's sale of its XRP token to institutional investors.
A brief period of whale activity has sent the price of Ripple's XRP up 18% from a bottom of $0.438 on August 5 to its current price of $0.517.
District Judge Analisa Torres has cut the penalty requested by the U.S. Securities and Exchange Commission (SEC) in the case against Ripple Labs over XRP by 94%. The court partially granted the SEC's motion for remedies against Ripple, imposing a $125 million civil penalty.
In just one hour, the XRP price rallied 27% to a one-week high of $0.6406 on Wednesday after Judge Analisa Torres ordered Ripple Labs to pay only $125 million of the $2 billion fine sought by the US Securities and Exchange Commission (SEC) against the blockchain payments company after a four-year legal battle. Ripple's Legal Victory In the ruling, the court, applying a test derived from the Supreme Court, determined that Ripple's Institutional Sales constituted offers or sales of investment contracts.
A federal judge has issued a split decision in the long-running legal battle between Ripple and the SEC over XRP.
