As the deadline approaches for the Ripple vs SEC case, there are new discussions and rumors regarding the $125 million fine.
Ripple's Fine Updates
With the important date of August 15 coming closer, social media has been buzzing with claims that Ripple has already paid the fine and will not appeal Judge Analisa Torres' ruling.
Former SEC Lawyer's Commentary
In response to the confusion, former SEC lawyer Marc Fagel provided clarification. He stated that Ripple has not yet paid the fine. The $125 million penalty was placed into an escrow account after last year's court judgment and will remain there until both parties dismiss their appeals. Only then will the funds be released to the U.S. Treasury.
Reasons for Ripple's Court Defeat
Fagel explained that Ripple attempted to take a legal shortcut that did not succeed. The company argued that the penalty should be reduced, but the court did not find that argument compelling enough. Consequently, the original penalty stood.
For now, the $125 million remains in escrow, and the case will not conclude until both parties formally dismiss their appeals.
