Recent rumors suggesting Ripple might use XRP to pay its fine have been disproven by former SEC attorney Marc Fagel, emphasizing that the fine has already been settled.
XRP Community Speculation Resurfaces
The discussion reignited when crypto personality Zach Rector posed a provocative question on Twitter: “Why didn’t the government want to hold onto its Bitcoin?” In response, XRP commentator “XRP Savant” suggested it was part of a broader setup for Ripple to settle its SEC penalty in XRP.
Marc Fagel Sets the Record Straight
Marc Fagel, a former SEC San Francisco Regional Director, quickly entered the conversation to correct the record. He stated unequivocally: “They already paid in cash. Sorry.” When pressed with Squire’s speculative post, Fagel followed up with a firmer clarification, emphasizing that a court ordered cash payment into escrow.
Legal Reality vs. Community Hopes
While XRP Savant and others push the narrative of XRP being used for institutional settlements, there is no legal basis or regulatory precedent supporting such claims. Courts require penalties to be paid in fiat currency, especially with assets under regulatory scrutiny.
Marc Fagel’s comments clarify that Ripple's $125 million fine has been paid in cash, reinforcing the importance of facts in a market often filled with speculation.
