The Securities and Exchange Commission has dropped its case and appeal against Ripple Labs, according to ABC News. CEO Brad Garlinghouse announced the social media platform X on Wednesday. The decision potentially spares Ripple from a $125 million fine. The SEC sued Ripple in 2020, alleging the company violated securities laws by raising over $1 billion through XRP token sales. A 2023 court ruling found XRP tokens were not securities but upheld a fine for sales to institutional investors. Ripple donated $5 million to Trump’s inaugural committee, and its CEO met with Trump in January
