$XRP Pumps As SEC Files For Ripple Lawsuit Settlement – Is It Actually Game Over?
Ripple previously announced the end of the SEC's lawsuit against the $XRP holder, but it was only on Thursday that the SEC filed a settlement agreement. IBTimes US The SEC finally announced a settlement agreement with Ripple weeks after the company made its own announcement
Some crypto users believe it may take a few more months before the lawsuit's end is finalized
$XRP surged Thursday night amid the development but has yet to see a more significant price pump
The U.S. Securities and Exchange Commission (SEC) on Thursday announced it has filed a settlement agreement over its lawsuit against blockchain firm Ripple and two of its leaders, CEO Brad Garlinghouse and Ripple co-founder Chris Larsen, marking a major move by the financial regulator since Chair Paul Atkins took the helm from former Acting Chair Mark Uyeda.
Many XRP holders have been waiting for the SEC's official announcement regarding the lawsuit even as Garlinghouse previously announced that the lawsuit is over. SEC Acknowledges Ripple Settlement
Ripple, the largest corporate holder of the XRP altcoin, had been in a back-and-forth legal battle with the SEC since the agency sued the company late in 2020.
On Thursday, the SEC said it has filed a settlement agreement in its lawsuit against Ripple, Garlinghouse and Larsen "that lays out a framework for resolving the Commission's civil enforcement action."
As previously reported, Ripple will only pay $50 million of the initial $125 million civil penalty.
In its Thursday statement, the Atkins SEC clarified that its decision to settle with Ripple relies solely on the Commission's "ongoing efforts to reform and renew its regulatory approach to the crypto industry, not on any assessment of the merits of the claims alleged in the action." Crypto Users Weigh In on News
While Garlinghouse has said earlier this year that the lawsuit is over, it's not completely the end of the story for the hard-fought legal battle.
Crypto macro analyst Arlone Abello, who is prominently known as Coach Miranda Miner in the crypto community, explained that even if Ripple and the SEC have agreed to settle, Judge Analisa Torres, who oversees the case, still has to sign off on the agreement.
so what is the next step? 👇👇
If Judge Analisa Torres agrees with the request, then the SEC and Ripple will move the Court of Appeals for the Second Circuit (Appeals Nos. 24-2648 & 24-2705) to remand the case back to her court under Federal Rule of Appellate Procedure 12.1.… — Coach Miranda Miner (@MiningMiranda) May 8, 2025
One XRP holder, agreed to Abello's comments, but added that while the case "should be good to go," the politicized manner with which the crypto industry has been entangled with in recent months may still change the regulatory agency's tone.
yes, Torres needs to approve and then the have to go to another court to clean up the appeals. 2 or 3 steps left. Should be good to go, but since everything is politicized nowadays, you never know. — WindyCityRipple (@xChicoman) May 8, 2025
For one crypto user, the lawsuit won't be over until the SEC "posts it like they've done [with] all the other cases."
Several others on X believe it might take several more months before the case finally reaches its end.
It could take another few months to finalize — Oliver Cromwell (@__Wait_for_it_) May 8, 2025
This will not be completely settled until August. While very positive, there are other steps to settle this. — Tim Welch (@tkdc1965_tim) May 8, 2025 $XRP Still Pumps
Despite the case not reaching its total end just yet, XRP surged overnight, trading as high as $2.33 at one point during a crypto market rally over the U.S. securing a trade agreement with the United Kingdom.
The popular digital asset has yet to see a major breakthrough in price action, but it has one of the largest communities and supporters across the broader crypto sphere.
© Copyright IBTimes 2024. All rights reserved.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Int'l Business Times
30-05-2025
- Int'l Business Times
JD Vance Declares War on Anti-Crypto Bureaucracy at Bitcoin 2025
There's a new sheriff in town—or at least that's how Vice President JD Vance framed it from the main stage at Bitcoin 2025 in Las Vegas. In a packed ballroom at The Venetian, the Republican VP laid out the clearest message yet from the Trump administration: the days of what he called "regulatory harassment" are over. "Operation Choke Point 2.0 is dead," Vance announced to roaring applause. "Let my words serve as its obituary." The speech was more than red meat for a Bitcoin-heavy crowd. It marked the first time a sitting U.S. vice president has addressed a crypto-specific conference. Vance wasn't there to hedge; he delivered a full-throated endorsement of digital assets, called blockchain a national priority, and torched the Biden-era policy legacy—especially the SEC. "We reject regulators, and we fired Gary Gensler," he said, hammering the very agency that's spent the last four years tangling with Coinbase, Ripple, Uniswap, and just about every major protocol with a legal team. Vance made the case that crypto is not only here to stay—it's a cornerstone of the administration's economic strategy. "Every day I see new blockchain technology and use—supply chain records, transparency, infrastructure," he said. "The people in this room are the pioneers of the digital economy." He touched on Canada's crackdown during the trucker protests as a warning shot for what centralized finance can enable. "In Canada, they closed bank accounts and once they did that, the movement was over," he said. "Crypto is good for bad policy, no matter the party." But perhaps the most significant takeaway was legislative: the Trump camp is pushing the GENESIS Act—new legislation aimed at defining digital asset protections and freeing up crypto innovation across the U.S. "We're trying to get the GENESIS Act passed and pushed as fast as possible," Vance said. In a year where crypto is once again a wedge issue—between parties, between generations, between ideologies—Vance's appearance felt like a shot across the bow. Whether it resonates beyond the Vegas convention floor remains to be seen, but one thing is now certain: with Trump back in the White House and Vance at his side, crypto isn't just tolerated. It's got an ally. And the SEC? It might want to update its résumé.
Int'l Business Times
28-05-2025
- Int'l Business Times
Trump Media to Raise $2.5 Billion With Plans to Buy Crypto, Create 'Bitcoin Treasury'
The Trump Media and Technology Group has announced that it is now raising $2.5 billion for its plans to buy cryptocurrency, investing heavily in the top crypto in the market, Bitcoin. The company revealed that it will create a "Bitcoin Treasury" for them, and it will help diversify their revenue and assets, as well as serve as their massive holdings amidst the rising token prices. It is known that the Trump Media and Technology Group's majority owner, President Donald Trump, has pushed for the United States' adoption of Bitcoin, offering a boost to the crypto industry earlier this year. Trump Media to Raise $2.5B to Buy Crypto In the latest press release by the Trump Media and Technology Group, the company has confirmed that it is raising $2.5 billion for its future endeavors of buying cryptocurrency for its assets. This will be offered in a private placement offering, and it will comprise approximately $1.5 billion in Trump Media common stock, as well as $1 billion in convertible debt to 50 investors. The news behind this massive investment came after the dinner for the largest investors of the $TRUMP meme coin, with the Financial Times first reporting that the company is planning to raise $3 billion. According to Trump Media CEO Devin Nunes, this move is a "big step forward" towards the company's plans to acquire "crown jewel assets consistent with America First principles." Bitcoin Treasury for Trump Media Trump Media believes that Bitcoin is the "apex instrument of financial freedom," with their main focus centering on creating a "Bitcoin treasury" for the company. The top coin would be held on Trump Media's balance sheet, and it will join the existing cash and short-term investments that total $759 million as of the end of the first quarter. Anchorage Digital and would be in charge of holding the Bitcoin for Trump Media. The release claimed that this massive investment would help the company against "harassment and discrimination by financial institutions." Trump and Cryptocurrency Back when Donald Trump was campaigning, he tapped into the crypto market for massive support as he expressed that he plans to lobby for wider adoption and regulation in the country. When he won, crypto prices surged exponentially, with Bitcoin achieving a $100,000 valuation, which it lost along the way. However, it slowly climbed back to it again amidst Trump's inauguration. While crypto's significant growth did not hold steadily, there have been several surges that brought back life and power to its valuation, and this is because of the previous promises of President Trump slowly unfolding. Last March, Trump unveiled the crypto strategic reserve for the United States, with the likes of Bitcoin, Ethereum, XRP, and more to be part of the country's digital assets. During the past months, Trump made significant moves for the cryptocurrency industry, including pardoning Silk Road's creator, easing down on regulatory scrutiny for companies, and incorporating digital tokens among programs and services. That being said, Trump's World Liberty Financial (WLF) also launched a meme coin called $TRUMP for people to invest in and trade. Originally published on Tech Times
DW
27-05-2025
- DW
EU probes 4 porn sites over failure to block minors – DW – 05/27/2025
The EU has launched investigations into four major porn sites over alleged failures to block minors from accessing adult content. Officials warn of possible mental harm and major legal consequences. The European Commission opened formal investigations on Tuesday into four major pornographic platforms over suspected failures to prevent minors from accessing adult content. Brussels says the four — Pornhub, Stripchat, XNXX, and XVideos — are acting in violation of the EU's Digital Services Act (DSA). What is the EU investigating? The Commission said the platforms do not have "appropriate and proportionate measures" in place and warned of possible mental and physical harm to young users. "The online space should be a safe environment for children to learn and connect," said Henna Virkkunen, the EU commissioner responsible for digital affairs. "Our priority is to protect minors and allow them to navigate safely online." All four platforms were classified as "very large online platforms" under the DSA — subject to stricter oversight — though Stripchat was recently removed from the list after reporting fewer than 45 million monthly EU users. The investigation will still cover the period when it qualified. The Commission said the investigation aims to collect more evidence, including interviews and technical assessments, to determine whether the platforms are in breach of EU law. What could the porn site investigation mean? Violations of the DSA could result in fines of up to 6% of a company's global turnover or even an EU ban for repeated breaches. How can the EU deal with Musk and his tech agenda? To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video While the Commission noted that launching the probe does not prejudge its outcome, it emphasized the urgency of protecting children online. Under the Digital Services Act, platforms are required to implement effective age verification tools to block access to pornographic content for minors, remove illegal material promptly, and provide simple mechanisms for users to report harmful or illegal content. Pornhub's parent company, Aylo, said it is "fully committed" to child safety and compliance with the law, but argued that age verification should be handled at the device level, not by websites. The other companies did not respond to requests for comment. The EU is also developing an official age-verification app and has invited public input, including from parents, as part of broader efforts to create binding guidelines for online child protection. Edited by Sean Sinico
