๐Buckle up, BTC enthusiasts! The ongoing dispute between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs over XRP's status is heating up! ๐ฅ
David Hirsh, Chief of the Crypto Asset and Cyber Unit at the SEC, has waved goodbye after 9 years of service. ๐ His departure comes after the SEC reduced its demanded penalty from a staggering $2 billion to a more digestible $102.6 million. Ripple's legal team, however, is pushing for a further reduction, capping it at $10 million. ๐ธ
But the drama doesn't stop there! Ripple's CEO, Brad Garlinghouse, is also caught up in a separate lawsuit in California. ๐๏ธ The case revolves around statements he made years ago, expressing his strong belief in XRP. While the case is proceeding to trial, the judge has dismissed several allegations, including those suggesting Ripple violated federal securities law. ๐ โโ๏ธ
Garlinghouse stands firm, celebrating this as a victory for Ripple. He remains "very, very, very long XRP" and is on the "HODL side." ๐
Stay tuned for more updates on this rollercoaster ride! ๐ข #BTC #CryptoNews
