Ripple CEO says SEC suit nearly forced company shutdown

Kiswahili

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.

Makala yanayohusiana

A photorealistic courtroom scene depicting the SEC's settlement with Coinbase over a FOIA lawsuit, featuring lawyers exchanging documents and a check.
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SEC pays $150,000 to settle Coinbase FOIA lawsuit

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The U.S. Securities and Exchange Commission agreed to pay $150,000 and release two withheld documents to end a Freedom of Information Act lawsuit backed by Coinbase. The settlement, reached on July 22, also requires the agency to review its records and text-message preservation practices. The case stemmed from requests about Ethereum investigations and former Chair Gary Gensler’s communications.

Ripple considered shutdown and XRP distribution, CEO says

Ripple chief executive Brad Garlinghouse said he and co-founder Chris Larsen weighed shutting down the company and distributing its XRP holdings to shareholders after the SEC filed suit in 2020.

Ripple CEO says crypto market structure bill not a done deal

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Ripple Labs CEO Brad Garlinghouse stated that the U.S. Senate's crypto market structure bill, known as the Clarity Act, remains uncertain despite a recent stablecoin compromise. Speaking at Consensus 2026 in Miami Beach, he emphasized that a Senate Banking Committee hearing this month is crucial for its advancement. Without it in the next two weeks, the bill's chances could drop sharply.

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