Btcnews on Nostr: The SEC rejected Ripple Labs' request for a smaller fine, arguing that the proposed ...
The SEC rejected Ripple Labs' request for a smaller fine, arguing that the proposed $10 million is insufficient compared to the $102.6 million the SEC is demanding.
Ripple cited the SEC's settlement with Terraform Labs to support its request, but the SEC argued that the cases are not comparable.
The SEC calculated Ripple's fine using the same metrics as Terraform Labs, which is nearly 12% of the gross profit from the infringing conduct.
While the SEC reduced its initial $2 billion fine, Ripple maintains that it will not pay more than $10 million, as unlike Terra, there were no victims in its case.
Published at
2024-06-17 18:45:42Event JSON
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"content": "The SEC rejected Ripple Labs' request for a smaller fine, arguing that the proposed $10 million is insufficient compared to the $102.6 million the SEC is demanding.\n\nRipple cited the SEC's settlement with Terraform Labs to support its request, but the SEC argued that the cases are not comparable.\n\nThe SEC calculated Ripple's fine using the same metrics as Terraform Labs, which is nearly 12% of the gross profit from the infringing conduct.\n\nWhile the SEC reduced its initial $2 billion fine, Ripple maintains that it will not pay more than $10 million, as unlike Terra, there were no victims in its case.\nhttps://image.nostr.build/78b94c13a0167fffc45d3751cc9faf4766412be2f553bd0c52d4e210389e27b0.jpg",
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