The SEC-Ripple case is finally over. Ripple was fined just $125 million for institutional sales, and crypto exchange transactions were deemed legal.
While Ripple's legal fight against the SEC made a splash in the entire cryptocurrency industry, XRP supporter lawyer Fred Rispoli called on Tesla and SpaceX CEO Elon Musk to integrate XRP into the X payment system after the latest court decision.
While urging famous billionaire Elon Musk to integrate XRP into X Payments, lawyer Fred Rispoli asked Musk to “announce that XRP will be part of the X Payments platform.”
Drawing attention to the importance of Musk's addition of Ripple's native cryptocurrency XRP to the X payment system, the lawyer said:
“Elon Musk, you now have a golden opportunity to legally challenge the SEC after today's defeat against Ripple.
“Put this through X legal process, I'm sure Adam will agree.”
@elonmusk You have a golden opportunity right now to legally say eff you to @secgov after its loss today to @ripple . Announce $XRP will be part of the @XPayments platform. Run it through @X legal, I bet Adam would agree with me.
— Fred Rispoli (@freddyriz) August 8, 2024
Judge Analisa Torres rejected the SEC's proposed $2 billion penalty and instead imposed a $125 million penalty on American blockchain payment firm Ripple in her latest ruling. In addition to the fine, the judge also imposed an injunction prohibiting Ripple from violating federal securities laws in the future.
*This is not investment advice.
