Dispute with Ripple Resolved
WrathofKahneman announced that GCC Exchange UK Ltd has successfully resolved a legal dispute with Ripple.
The lawsuit against GCC Exchange filed by Ripple in the High Court has concluded with a confidential settlement agreement and no admission of liability.
The lawsuit demanded the settlement of outstanding invoices and the accrual of late fees totaling $14.9 million.
Yash, Director of GCC Exchange UK Ltd, confirmed the resolution, stating that both parties have entered into a confidential settlement agreement without admitting liability.
Expanding into African countries like Kenya and Ghana, GCC Exchange aims for a strategic branch network expansion and emphasizes customer service improvement.
SEC vs. Ripple Lawsuit
The SEC has filed a motion to compel Ripple to disclose its financial statements and institutional sales contracts for the fiscal year 2022-2023 after the previous ruling by Judge Analisa Torres.
Despite objections from Ripple, the SEC is pushing to compel the production of specific documents. Both parties have a one-month window to present their case, sparking speculation about a potential settlement amid the ongoing legal battle.
Hot Take
With the successful resolution of the legal dispute, and the potential for a settlement in the SEC vs. Ripple Lawsuit, GCC Exchange UK Ltd is poised to focus on strategic expansion and customer service improvement initiatives.
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