Ripple Labs, through its chief legal officer Stuart Alderoty, announced Tuesday that the cryptocurrency exchange has brokered a deal with the U.S. Securities and Exchange Commission to drop its cross-appeal with the agency—and apparently saved about $75 million in the process.
“The SEC will keep $50M of the $125M fine (already in an interest-bearing escrow in cash), with the balance returned to Ripple,” Alderoty said on X. “The agency will also ask the Court to lift the standard injunction that was imposed earlier at the SEC’s request. All subject to Commission vote, drafting of final documents and usual court processes.”