💰 SEC slashes Ripple penalty to $102 million.

The Securities and Exchange Commission (SEC) has indeed reached a settlement with Ripple Labs Inc., significantly reducing the penalty from their initial claims. The new settlement reduces Ripple's penalty to $102 million, down from the $1.3 billion originally sought by the SEC. This marks a significant development in the legal battle between Ripple and the SEC over the classification of XRP, the digital asset associated with Ripple.