Garlinghouse Says SEC to Press Judge for $2B in Fines and Penalties in Ripple Case
Summary
The SEC is seeking a $2 billion judgment against Ripple Labs in their legal battle, which began in 2020. The SEC alleges that Ripple violated federal securities laws by selling XRP. Ripple's CEO plans to fight back, claiming no allegations of fraud or recklessness. The company will file its response next month. The SEC declined to comment.
