SEC Commissioner Crenshaw Slams Ripple Deal, Agency Direction Under Trump
SEC Commissioner Caroline Crenshaw criticized the agency's settlement with Ripple Labs, stating it undermines crypto enforcement and investor protections. The SEC announced Ripple and its executives would pay $50 million to resolve a case alleging unregistered sales of XRP tokens. Initially, the SEC sought a $2 billion penalty, but a judge reduced it to $125 million, which the settlement vacates, returning over $75 million to Ripple. Crenshaw expressed concern over a shift in the SEC's crypto stance, highlighting the abandonment of previous legal victories for uncertain future regulations. She warned this damages the SEC's credibility and reflects internal tensions regarding crypto regulation. XRP's market cap exceeds $132 billion, with a recent price increase of 6.5%.
