Ex-SEC Attorney Discredits One Major Rumor About XRP in Ripple Case
2025-07-17 20:06:21
Main Idea
Former SEC attorney Marc Fagel refutes rumors that Ripple might pay its court-imposed penalty using XRP, clarifying that the payment was made in cash as per court documents.
Key Points
1. A rumor suggested Ripple could pay its SEC penalty in XRP, linked to speculation about U.S. government Bitcoin sales.
2. Former SEC attorney Marc Fagel dismissed the rumor, stating Ripple already paid the $125 million fine in U.S. dollars.
3. Court documents confirm Ripple deposited $125 million in escrow in U.S. dollars as part of its proposed final judgment with the SEC.
4. XRP community members, like 'XRP Savant,' speculated about XRP being used for the settlement, but Fagel clarified this was not the case.
5. Ripple CEO Brad Garlinghouse has expressed optimism about the lawsuit's resolution but did not confirm XRP as a payment method for the fine.
Description
A rumor suggesting Ripple might pay its court-imposed penalty using XRP has been firmly shut down by former SEC attorney Marc Fagel. The claim, which resurfaced this week within the XRP community, was sparked by speculation that the U.S. government’s recent Bitcoin sales were linked to preparations for accepting XRP as a settlement currency. Fagel, however, directly dismissed this theory as fiction, stating that Ripple has already paid the penalty in cash as ordered by the court. XRP Community S...
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