Summary
TLDR: The SEC filed a proposed final judgment seeking $1.9 billion from Ripple Labs. Ripple CEO and CLO criticized the SEC’s actions as misleading and outside the law. The court will decide whether to grant the motion next month.
Key Points
1. The Securities and Exchange Commission filed a proposed final judgment in its case against Ripple Labs, seeking a judgment of $1.9 billion.
2. Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty announced that the SEC was seeking a billion-dollar sum from the company, with Ripple planning to file a response next month.
3. The SEC and Ripple have been engaged in a multi-year legal battle, with the SEC alleging that Ripple knowingly violated securities laws.