Ripple Requests Court to Stay $125M Penalty Order in SEC Lawsuit
CryptoNewsTerminal Staff05 Sep, 2024
Ripple Requests Court to Stay $125M Penalty Order in SEC Lawsuit
Ripple has requested that the New York Southern District Court stay the $125 million penalty order imposed in the SEC lawsuit, as reported by CoinTelegraph. Ripple's legal team has proposed placing 111% of the judgment amount, approximately $139 million, in escrow until the appeals period expires or 30 days after the appeals are finalized. Industry experts view this move as a potential indication that the SEC may not appeal but is preparing for the possibility.
