After nearly five years of litigation, Ripple and the US Securities and Exchange Commission want to settle.
But they still have to convince the judge to rewrite her own judgment.
Their latest joint motion asks Judge Analisa Torres to dissolve the injunction against Ripple and reduce its $125 million penalty to $50 million, arguing that “exceptional circumstances” justify the request.
But the brief leaves “meat off the bone,” said crypto attorney John Deaton in a recent X broadcast.
He warns the judge won’t be rushed into reversing a decision she spent years crafting.
In his view, the filing missed key opportunities to persuade.
It failed to emphasise how the SEC’s prior leadership under Gary Gensler pursued an overly aggressive and inconsistent enforcement strategy — one that has since been rolled back under current Chair Paul Atkins.