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Ripple CEO Brad Garlinghouse said at an event at the University of Kansas School of Business that after the U.S. SEC sued Ripple in 2020, the company had seriously considered shutting down. Garlinghouse said that the government has nearly unlimited resources, and closing the company might have been the easier choice; Ripple could have distributed the XRP it held to shareholders pro rata and told the SEC that it no longer held XRP. But he said that would have led to hundreds of people losing their jobs, so Ripple ultimately chose to continue fighting the lawsuit. The SEC previously accused Ripple of conducting an unregistered securities offering through the sale of XRP, and the two sides later reached a settlement. (CoinGape)