🚨NEW: On @Ripple, as @CherryEmpress21 notes, it’s more procedurally complex than @coinbase because they already have an order from Judge Torres at the district level to pay the 125M penalty. Torres, according to the final judgment, will retain jurisdiction over the case for a year (until August 7, 2025) to make sure the terms of the order are met. While the SEC could choose to drop the appeal at the Second Circuit, they would also need to figure out how to approach the district court and possibly come to an agreement on the penalty ruling (reduce or ask to drop) and presumably get Torres’s blessing as the presider. There’s a degree of uncertainty in all of this because, as one legal source tells me: “We are in uncharted territory right now.”