Judge Fines Ripple $125M

A federal judge ordered Ripple to pay a $125 million civil penalty and imposed an injunction against future securities law violations, after finding last year that its institutional sales of XRP violated federal securities laws. District Judge Analisa Torres of the Southern District of New York imposed the $125.035 million fine after finding 1,278 institutional sale transactions violated the law, well below the $1 billion in disgorgement and prejudgment interest and $900 million in civil penalties the SEC sought. The judge also ruled that Ripple's programmatic sales of XRP to retail clients through exchanges did not violate securities laws, a portion the SEC unsuccessfully tried to appeal. The SEC is likely to appeal the July 2023 ruling now that a sentence has been imposed.