SEC, Ripple Ink $50M Settlement Agreement, Ask NY Judge for Green Light

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Under the new settlement agreement, Ripple will get the majority of that money back. By Cheyenne Ligon | Edited by Nikhilesh De May 8, 2025, 9:26 p.m. What to know : Ripple Labs and the SEC have reached a settlement that includes a $50 million penalty, pending judicial approval, ending their long-standing legal dispute. Ripple first reported the in-principle agreement in March. Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have officially reached a deal that, if approved by a judge, will bring their years-long legal battle to a close. STORY CONTINUES BELOW Don't miss another story. Subscribe to the State of Crypto Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . According to a settlement agreement filed in New York on Thursday, both parties have agreed to a $50 million penalty — a portion of the $125 million fine initially imposed last year by Judge Analisa Torres of the Southern District of New York (SDNY), and a tiny fraction of the massive $2 billion fine initially requested by the SEC. In her 2023 ruling, Judge Torres found that Ripple violated securities laws in selling its native XRP token to institutional investors, but did not violate securities laws in putting XRP on exchanges for retail customers to buy in a suit originally brought in 2020 under then-SEC Chair Jay Clayton (who's now the Acting U.S. Attorney for the Southern District of New York). The SEC, then under the leadership of former Chair Gary Gensler, appealed Torres’ ruling, prompting Ripple to cross-appeal. Under the settlement agreement, both parties agree to drop their cases. The Thursday filing confirms Ripple’s announcement in March that it had reached an in-principle settlement agreement with the SEC. Read more: Ripple to Get $75M Of Court-Ordered Fine Back from SEC, Drops Cross Appeal The settlement comes amidst the SEC’s full-scale retreat from a host of crypto investigations and litigation that began under Gensler’s tenure. After U.S. President Donald Trump took office in January and appointed crypto-friendly Paul Atkins to serve as the SEC’s new chairman, the agency has done an about-face on crypto regulation. XRP climbed 9% on the news, continuing a 24-hour increase in value. Ripple did not respond to CoinDesk’s request for comment. SEC Ripple Cheyenne Ligon On the news team at CoinDesk, Cheyenne focuses on crypto regulation and crime. Cheyenne is originally from Houston, Texas. She studied political science at Tulane University in Louisiana. In December 2021, she graduated from CUNY's Craig Newmark Graduate School of Journalism, where she focused on business and economics reporting. She has no significant crypto holdings. X icon About About Us Masthead Careers CoinDesk News Crypto API Documentation Contact Contact Us Accessibility Advertise Sitemap System Status DISCLOSURE & POLICES CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies . CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one. Ethics Privacy Terms of Use Cookie Settings Do Not Sell My Info © 2025 CoinDesk, Inc. X icon