Chair

Gary

Ripple’s long-running legal fight with the U.S. Securities and Exchange Commission (SEC) is officially over, according to CEO Brad Garlinghouse. 
In a post on X, <a href="https://financefeeds.com/tether-ceo-clashes-with-ripples-brad-garlinghouse-over-us-regulatory-comments/">Garlinghouse</a> announced that the SEC dropped its appeal, calling it a “resounding victory” for Ripple and the broader crypto industry. 
Garlinghouse made the announcement at the Digital Asset Summit in New York, confirming that the SEC is no longer pursuing the case. In a video shared on X, he said the ruling marks the closing of a major chapter in crypto history and urged the U.S. to position itself as a leader in the industry. 
The Ripple CEO also acknowledged the new SEC leadership and policymakers for taking a more constructive approach toward crypto regulation. He thanked Ripple employees, legal teams, partners, and the broader XRP community for standing by the company throughout the fight. 
Following the news, XRP surged about 9% within the first hour, pushing its market capitalization to $146 billion, making it the third-largest cryptocurrency. The announcement also triggered a broader rally in the crypto market, with several other tokens posting gains. 
The SEC first sued Ripple in December 2020, alleging the company conducted a $1.3 billion unregistered securities offering through XRP sales. After four years of legal battles, the case has finally reached its conclusion. 
The commission ramped up actions under former Chair Gary Gensler but has since backed off cases under Acting Chair Mark Uyeda. Since January, the SEC dropped multiple lawsuits against Coinbase, Consensys, Kraken, and other crypto firms, fueling speculation about whether political donations played a role. 
The ongoing legal battle stems from a December 2020 lawsuit alleging Ripple used XRP as an unregistered security to raise funds. In August 2024, a federal court ruled partially in favor of Ripple, finding the company liable for $125 million but rejecting the SEC’s claim that&nbsp;<a href="https://financefeeds.com/major-crypto-exchanges-to-list-ripples-rlusd-stablecoin-imminently/">XRP</a>&nbsp;inherently qualifies as a security. Ripple’s appeal does not challenge this aspect of the decision. 
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Ripple Wins Legal Battle as SEC Drops Appeal, XRP Surges

FinanceFeeds

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