CEO of Company #Ripple : We have agreed with the 'Securities' to end the long legal battle

Brad, the CEO of Company #ريبل , which developed the currency $XRP , announced that the company has dropped its mutual appeal against the U.S. Securities and Exchange Commission, bringing an end to the long legal battle that originally began in December 2020.

The Securities and Exchange Commission is also expected to drop its appeal, which was filed in October, under the leadership of its former chair Gensler.

Judge Analisa Torres recently rejected a major joint proposal from Ripple and the Securities and Exchange Commission to amend the final judgment dating back to August 2024.

The U.S. Securities and Exchange Commission (SEC) had previously agreed to reduce the financial penalty to $50 million and requested to dismiss the court order against Ripple's institutional sales as part of a settlement agreement with the company; however, both parties failed to convince the court to end the case on terms more favorable to Ripple.

Ripple and the U.S. Securities and Exchange Commission were unable to meet the stringent conditions to amend the final judgment, according to the judge.

The company was expected to either continue its mutual appeal or abandon it and settle for the original fine ($125 million) in addition to the permanent court order, and it was not surprising that Ripple chose the latter option.