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Brad Garlinghouse: Ripple Once Considered Shutting Down the Company and Distributing XRP to Shareholders
Svmuu News: Ripple CEO Brad Garlinghouse said that following the SEC’s lawsuit in 2020, he and co-founder Chris Larsen seriously considered shutting down the company and distributing their XRP holdings to shareholders. Garlinghouse said they chose to fight the SEC rather than shut down the company; that decision saved hundreds of jobs but cost Ripple approximately $150 million in legal fees over four years. Ripple ultimately prevailed after a federal judge ruled that XRP itself was not a security; the case was settled last year following a leadership change at the SEC, with the new leadership adopting a more lenient stance toward cryptocurrency. (CoinDesk).
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