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.
Garlinghouse made the comments while speaking at the University of Kansas School of Business earlier this week. He described the option as the easier path against an agency with what he called "infinite power and resources."
The executives ultimately decided to fight the lawsuit. Garlinghouse said the choice preserved hundreds of jobs but led to about $150 million in legal fees over four years.
A federal judge later ruled that XRP itself is not a security. The case was settled in May 2025 after new SEC leadership took a more accommodating stance toward crypto.
