Test Your Knowledge: The Ripple vs SEC Case

bobbyknuckles

Created 6/28/2024

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Sources

https://cointelegraph.com/learn/the-sec-vs-ripple-lawsuit-everything-you-need-to-know

https://www.reuters.com/markets/us/sec-seeking-2-billion-ripple-labs-chief-legal-officer-says-2024-03-25/

https://www.sec.gov/news/press-release/2020-338

https://www.coindesk.com/policy/2024/04/23/ripple-says-10m-penalty-enough-rejects-secs-ask-of-195b-fine-in-final-judgment/

Think you're up to date on the latest legal battle between Ripple and the SEC? Put your knowledge to the test with this quiz!

1. When did the SEC sue Ripple?

2020

2019

2021

2018

2. How much was Ripple accused of raising in an unregistered securities offering by the SEC?

$1.3 billion

$1.8 billion

$2.5 billion

$950 million

3. What total fine did the SEC propose against Ripple?

$1 billion

$2 billion

$1.95 billion

$1.5 billion

4. How much in disgorgement did the SEC propose Ripple should pay?

$500 million

$876 million

$700 million

$1 billion

5. What amount did the SEC propose Ripple should pay as a civil penalty?

$876 million

$500 million

$1 billion

$600 million

6. Which of the following did the court find Ripple violated?

Institutional sales of XRP

Exchange sales of XRP

Algorithmic sales of XRP

Retail sales of XRP

7. Which part of SEC's allegations did the court dismiss?

Institutional sales

Exchange and algorithmic sales

Retail sales

Futures trading

8. How much prejudgment interest did the SEC propose Ripple should pay?

$100 million

$198 million

$150 million

$185 million

9. How much did Ripple Labs argue would be an appropriate civil penalty?

$50 million

$100 million

$10 million

$200 million

10. Who did Ripple file its opposition against?

The New York court

Ripple's Investos

The U.S. Securities and Exchange Commission

The Blockchain Association

11. Ripple filed to seal data related to which motion?

Summary judgment

SEC’s motion for judgment and remedies

Dismissal

Appeal

12. What was the SEC's reasoning against Ripple's motion to seal data?

It affects public opinion

It concerns fundamental regulatory guidelines

It constitutes judicial documents crucial to the court's remedies decision

It involves other nations

13. Ripple argued its financial statements were irrelevant to the case. What did the SEC assert?

They support public awareness

They show cash flow discrepancies

They are crucial for understanding historical sales

They demonstrate current sales trends

14. What key item does Ripple claim is no longer relevant due to sales amendments?

Over-the-counter transaction characteristics

Futures contracts

Market analytics

Consumer feedback

15. Who is responsible for covering Ripple's institutional sales?

Retail traders

Sophisticated counterparties

International investors

Blockchain miners

16. Jeremy Hogan is known for being what in regards to the Ripple case?

A Ripple employee

An American lawyer

A journalist

A judge

17. When did the Ripple vs. SEC trial phase begin?

January 2024

April 2024

May 2023

December 2023

18. What is the main legal issue between Ripple and the SEC?

Misuse of public funds

Unauthorized trading

Raising unregistered securities

Tax evasion

19. How did XRP's price react following Ripple's partial court wins?

It remained the same

It increased

It decreased

It was removed from exchanges

20. What is one of the effects of securing partial court wins for Ripple?

Negative press

Potential positive impact on XRP's valuation

Regulatory compliance issues

Increased market volatility

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