๐Hey BTC enthusiasts! Here's the latest scoop on the Ripple v. SEC lawsuit as of June 27th. ๐ฐ
The SEC has dropped its demand for a fine from a staggering $2 billion to a still hefty $102.6 million. Ripple's legal team, however, insists on a maximum penalty of $10 million. ๐ฐ
Meanwhile, David Hirsh, the SECโs Chief of the Crypto Asset and Cyber Unit, has stepped down. ๐ถโโ๏ธ
Ripple's CEO Brad Garlinghouse is also dealing with a civil lawsuit in California. But there's a silver lining! The CA judge dismissed all allegations that Ripple violated federal securities law, leaving the NY ruling that XRP is not a security undisturbed. ๐๏ธ
Garlinghouse and Ripple's legal chief, Stuart Alderoty, have been vocal in their criticism of SEC's chairman Gary Gensler. Garlinghouse even suggested Gensler's actions could cost Biden the election. ๐ณ๏ธ
That's all for now, folks! Stay tuned for more updates on the world of Bitcoin and beyond! ๐๐