The U.S. Securities and Exchange Commission (SEC) is planning to ask a New York judge to levy $2 billion in fines and penalties on Ripple Labs, the crypto firm's CEO and chief legal officer said Monday.
"The SEC plans to ask the Judge for $2B in a case that involved no allegations (let alone findings) of fraud or recklessness. There is absolutely no precedent for this," Ripple CEO Brad Garlinghouse said in a post on X, formerly Twitter.
