Ripple CEO says SEC suit nearly forced company shutdown

Italiano

Ripple CEO Brad Garlinghouse said he and co-founder Chris Larsen considered shutting down the company after the SEC filed suit in 2020.

Garlinghouse made the comments in a KU Hustle interview. He explained that closing Ripple would have eliminated hundreds of jobs. The leaders instead decided to fight the case.

The four-year legal battle cost the company about $150 million. Ripple's XRP holdings provided an option to distribute assets to shareholders if needed.

The SEC dismissed its appeals in August 2025. A district court judgment remains in place with a $125.04 million penalty and an injunction against Ripple.

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