Ripple may sell more than 3.1 billion XRP to pay US$1.95 billion SEC fine
The U.S. SEC submitted a summary of preliminary remedies, a proposed judgment and accompanying exhibits in the Ripple case, in which the regulator explicitly asked the court to force Ripple to pay $1,950,768,364 in fines and penalties for its violations of federal securities laws. If the court rules in favor of the SEC and Ripple does not appeal, Ripple will have to raise $1.95 billion within 30 days of the final judgment. One potential avenue for Ripple to raise funds to meet this need could be through the sale of its XRP tokens, especially in custody. As of March 24, Ripple’s API data showed that the company held 40,100,000,005 XRP in custodial wallets, and given the asset’s current market price of $0.625, Ripple could liquidate 3,121,229,382 XRP tokens to raise $1,950,768,364.
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