Ripple CEO says SEC suit nearly pushed company to shut down

Ripple CEO Brad Garlinghouse mentioned he and co-founder Chris Larsen critically thought-about shutting the corporate down after the SEC sued in 2020 and distributing Ripple’s XRP holdings to shareholders.

In a KU Hustle interview, Garlinghouse mentioned they selected to battle as an alternative as a result of closing Ripple would have value a whole lot of jobs. He estimated the four-year authorized battle value the corporate about $150 million. The situation involved Ripple as an organization, relatively than a shutdown of the XRP Ledger or a lack of XRP held by the general public.

We nearly determined to close down the corporate when the SEC sued us. We we had been like uh you recognize like the federal government has infinite energy and assets.

The SEC’s August 2025 litigation release dismissed their respective appeals, resolving the enforcement motion. Nevertheless, the district court docket’s remaining judgment remained in impact, together with a $125.04 million civil penalty and an injunction towards Ripple.

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Garlinghouse mentioned Ripple and Larsen had thought-about winding down the corporate and distributing its XRP holdings to shareholders on a professional rata foundation. They selected to proceed working and battle the case, a call Garlinghouse mentioned preserved a whole lot of jobs however finally value about $150 million in authorized charges.

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A company determination with XRP on the heart

Conceptual diagram separating a crypto company, its token reserve, a decentralized ledger network and public token holders. — Conceptual diagram separating the crypto firm, its token reserve, a decentralized ledger community and public token holders.

Ripple fairness, XRP held by Ripple, the XRP Ledger, and XRP held by the general public are various things. The plan Garlinghouse described involved dissolving Ripple and distributing the corporate’s XRP holdings to its shareholders. It didn’t indicate that the ledger would shut down or that XRP held by the general public can be transferred or misplaced.