The Ripple boss has framed the final judgement as a "victory" for his company
Garlinghouse has noted that this huge sum is actually only a fraction of what the U.S. Securities and Exchange Commission initially requested. The SEC wanted the San Francisco-based company to fork out as much as $2 billion worth of fines and penalties. The agency argued that this would deter Ripple and other industry participants from violating security laws and in the future while also compensating for the harm caused by the company's actions.
Still, the final penalties are still significantly larger than the $10 million that Ripple was advocating for. "We respect the $125M fine the Court has imposed for certain historic sales to sophisticated third parties," Stuart Alderoty, Ripple's top lawyer, said on X. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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