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Ripple Settlement Update: No, They’re Not Paying the SEC in XRP
As the ongoing Ripple vs. SEC case continues to unfold, numerous rumors have been circulating about the possibility of Ripple paying its fine in XRP tokens instead of cash. However, former SEC official Marc Fagel has recently set the record straight, stating that this is not the case.
According to Fagel, the company has already set aside the necessary funds in an escrow account and will be paying the fine in cash, rather than using XRP tokens. This news may have come as a relief to some in the cryptocurrency community, who were worried about the potential impact on the value of XRP.
The idea that Ripple might pay its fine in XRP had sparked uncertainty among investors, with some predicting a potential drop in XRP’s price if this were to happen. However, with Fagel’s confirmation that this is not the case, it seems that these concerns can be laid to rest.
It is worth noting that some experts had suggested that the US government might seize Ripple’s escrowed XRP and hold it as a national reserve. However, Bill Morgan has shut down this idea, stating simply “it won’t”. This news may have also contributed to the recent surge in XRP’s price, which jumped around 6% in the last 24 hours.
Despite these developments, the XRP community remains on edge, awaiting further updates from the court.
Source: coinpedia.org
