Ripple, SEC File Joint Motion to Release $125M Held in Escrow

Description

The SEC and Ripple have moved to close the chapter on one of crypto’s longest-running legal battles, jointly filing a motion in Manhattan federal court to dissolve the injunction in their case and release the $125 million civil penalty currently held in escrow. Under the proposal, $50 million would go to the SEC, while the remaining $75 million would be returned to Ripple. The motion, filed under Federal Rules 60(b)(6) and 62.1, cites “exceptional circumstances” as grounds for reopening the fina...