Former SEC lawyer reveals whether Ripple has already paid a $125 million fine

As Ripple vs SEC Legal Battle approaches its next important deadline on August 15th, questions and rumors are flooding social media once again. Is Ripple already clear? Has the company quietly paid a $125 million fine and dropped the appeal?

One social media user recently announced that Ripple had already paid the fine and would not sue Judge Analisa Torres’ decision on injunction. They also questioned why the SEC did not formally vote or publicly declare whether to appeal the court’s decision.

Former SEC lawyer sets records straight

In response to the confusion, former SEC lawyer Mark Fagel intervened to provide some degree of clarity. According to him, Ripple has not paid the fine yet. Following last year’s court ruling, a $125 million penalty was placed on the escrow account. They will remain in escrow accounts managed by Ripple’s legal team until both Ripple and the SEC officially dismiss the appeal. Only then will the money be released and transferred to the US Treasury Department.

Fagel explained that this is a normal legal process. He added that there are still no indications that Ripple or the SEC is officially filing termination documents. Ripple may have publicly stated that it “deprives it” of appeal, but that doesn’t mean that the process is complete. Ripple may be waiting to coordinate with the SEC, and both parties may file joint terminations at the same time.

Why did Ripple lose the injunction debate?

Regarding the reasons why Ripple tried to reduce the fine or cancel the injunction failed, Fagel explained that Ripple tried to take legal shortcuts that didn’t work. The company argued that the penalty should be reduced, but the court did not think the argument was strong enough. As a result, the original penalty was on the table.

For now, $125 million remains untouched by escrow, and the case is not completely over until both parties officially dismiss the appeal.