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“They Already Paid in Cash. Sorry.”: Ex-SEC Official Debunks XRP Rumors
- According to ex-SEC official Marc Fagel, Ripple’s $125 million penalty was paid in cash.
- The payment is in escrow pending resolution of the ongoing appeal process.
- Notably, Ripple attempted to negotiate a reduced fine of $50 million but was unsuccessful in its efforts.
Former SEC enforcement attorney Marc Fagel has confirmed that Ripple has already paid its $125 million fine to the U.S. Securities and Exchange Commission in cash, not in XRP.
His statement directly counters widespread online speculation that the penalty could be paid using the XRP token and potentially be added to a U.S. national crypto asset reserve.
Ex-SEC Official: “They already paid in cash. Sorry.”
Fagel, who previously served as the SEC’s Regional Director in San Francisco, took to the social media platform X to clarify the situation. He explained that Ripple’s settlement payment was made entirely in cash and has already been deposited into an escrow account as part of a court order.
Related: No, the SEC Isn’t Stalling the Ripple Case: A Former SEC Director Explains the Delay
“They already paid in cash. Sorry,” Fagel wrote in response to claims suggesting Ripple m…
The post “They Already Paid in Cash. Sorry.”: Ex-SEC Official Debunks XRP Rumors appeared first on Coin Edition.
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