Ripple Puts An End To Its Counter-appeal Against The SEC And Recovers 75 Million Dollars

After more than four years of legal battle, Ripple Labs has decided to abandon its counter-appeal against the U.S. Securities and Exchange Commission (SEC), thus bringing an end to one of the most publicized cases in the crypto sector.

Ripple ends its tug-of-war with the SEC

On March 25, 2025, Stuart Alderoty, Ripple’s legal chief, announced on social media platform X that the company was renouncing its incident appeal against the SEC before the U.S. Court of Appeals for the Second Circuit.

This decision comes after the ruling made in August 2024 by the federal court of the Southern District of New York, which had ordered Ripple to pay $125 million.

According to the terms of this agreement, the SEC will retain only $50 million of the $125 million initially demanded. The remaining $75 million will be returned to Ripple, representing a partial victory for the blockchain company. Additionally, the federal agency will request the Court to lift the standard injunction previously imposed at the SEC’s request.

This announcement follows a statement by Ripple’s CEO, Brad Garlinghouse, who had revealed a few days earlier that the SEC would also drop its own appeal regarding the August 2024 ruling.

For this agreement to be finalized, it still needs the Commission’s approval, the drafting of final documents, and to undergo the usual judicial procedures.

An evolving political and regulatory context

The SEC case against Ripple, initiated in December 2020 under the presidency of Donald Trump, has been one of the longest law enforcement procedures conducted against a major U.S. company in the crypto sector. This legal battle has pushed Ripple to become more involved in American politics.

During the 2024 electoral cycle, Ripple donated $45 million to the Fairshake political action committee to support pro-crypto candidates. The company also pledged $5 million in XRP to Trump’s campaign fund.

Despite these contributions, Stuart Alderoty emphasized that the SEC’s decision to drop its charges was “independent” of any political donation.

Since Donald Trump’s election victory over Kamala Harris on November 5, 2024, Ripple’s leaders have participated in several official events in Washington. Brad Garlinghouse notably attended a summit at the White House on March 7, where President Trump discussed his plans regarding stablecoins and the establishment of a regulatory framework for cryptocurrencies.

On March 27, 2025, members of the Senate banking committee will review the nomination of Paul Atkins, a former SEC commissioner, to head the agency. He is expected to be questioned about his positions on crypto regulation and potential conflicts of interest, which could have significant implications for the industry’s future.

In summary, this resolution of the Ripple case potentially marks a turning point in the regulatory approach to cryptocurrencies in the United States, with consequences that could ripple through the entire industry.