Ripple Nearly Shut Down After SEC Lawsuit, CEO Reveals
Brad Garlinghouse said Ripple weighed dissolving the business and distributing XRP to shareholders as legal costs reached $150 million.
- On Sunday, Ripple CEO Brad Garlinghouse revealed the company seriously considered shutting down during the 2020 SEC lawsuit, weighing a plan to distribute XRP holdings to shareholders and dissolve the business.
- The SEC sued Ripple in December 2020, claiming the firm sold XRP as an unregistered security; lawyers warned leadership the company was "done and unsavable," creating existential pressure that nearly forced closure.
- Ripple chose to defend itself, spending roughly $150 million over four years; Judge Analisa Torres ruled in 2023 that XRP is not a security, and the case settled in 2025 with a $125 million penalty.
- Following the legal battle, Ripple expanded its global operations and secured regulatory approval in Europe, while the Kansas Jayhawks became the first major U.S. college team to wear an XRP patch on their jerseys.
- The company now seeks a national trust bank charter and Federal Reserve master account to integrate directly into U.S. financial systems, though the Federal Reserve paused new crypto account decisions until late 2026.
23 Articles
23 Articles
Ripple Almost Shut Down in 2020, Now XRP Makes History on a Jersey Patch
Ripple's CEO recently admitted the company came within a decision of vanishing entirely, with a plan ready to hand away every XRP token and leave the SEC with nothing to sue. What happened next put that same token somewhere no cryptocurrency had ever been before.
Ripple Nearly Closed Its Doors and Distributed XRP Over SEC Fight, Brad Garlinghouse Says
Key highlights:Ripple CEO Brad Garlinghouse said the company almost stopped operations after the SEC sued them in late 2020The company considered giving its XRP holdings to shareholdersRipple's legal battle with the SEC lasted about four years and cost $150 millionThe legal tussle between Ripple and the U.S. SEC is one of the most talked-about cases in crypto history. Ripple CEO Brad Garlinghouse, in an interesting revelation, shared that the co…
According to the SEC case, Ripple appeared to be facing the dispute. CEO Brad Garlinghouse now explained why the XRP company opted for the lawsuit. Source: BTC-ECHO BTC-ECHO
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