Ripple CEO says SEC suit nearly pushed company to shut down
Summary
Ripple CEO Brad Garlinghouse said he and Chris Larsen seriously considered shutting down Ripple after the SEC sued in 2020, including distributing Ripple’s XRP holdings to shareholders. They ultimately chose to keep operating and fight the case because closing would have cost hundreds of jobs. Garlinghouse said the four-year legal battle cost about $150 million in legal fees. His comments referred to Ripple as a company, not the XRP Ledger or XRP held by the public. The XRP network would have continued running even if Ripple had dissolved. In 2025, the SEC dismissed its appeals, ending the enforcement action, but the district court’s final judgment remained, including a $125.04 million civil penalty and an injunction against Ripple.
