Ripple and SEC Reach Settlement: SEC to Return $75 Million of Fine

Ripple Labs and the SEC have reached a proposed settlement, marking a significant step towards resolving their long-standing legal battle. According to Ripple's chief legal officer Stuart Alderoty on Tuesday, the SEC will return $75 million of the $125 million fine initially paid by Ripple last year, retaining only $50 million. This settlement follows the SEC's decision last week to drop its appeal of the 2023 ruling that Ripple's XRP sales to retail exchanges did not violate securities laws. As part of the agreement, Ripple will also drop its cross-appeal. Following the news, XRP initially saw a 1.5% increase before settling to around $2.47, mirroring the performance of Bitcoin and the broader crypto market.