SEC PLANS TO ASK JUDGE FOR $2 BILLION IN FINES AND PENALTIES FROM RIPPLE LABS

Summary from the TLDR Crypto newsletter

The SEC is seeking $2 billion in penalties from Ripple Labs. This is part of an ongoing conflict where the SEC accused Ripple of selling an unregistered security by raising $1.3 billion from the sale of XRP. Ripple's CEO critiqued the SEC's unjust behavior, citing court decisions in favor of Ripple.