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Brad Garlinghouse: Ripple had considered shutting down the company and distributing XRP to shareholders

MeNews
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ME News on July 12 (UTC+8): Ripple CEO Brad Garlinghouse said that after the SEC sued the company starting in 2020, he and co-founder Chris Larsen seriously considered shutting the company down and distributing the XRP they held to shareholders. Garlinghouse said they chose to fight the SEC rather than close the company. That decision saved hundreds of jobs but caused Ripple to pay about $150 million in legal fees over four years. Ripple ultimately won the case after a federal judge ruled that XRP itself is not a security. The case was settled last year following changes in SEC leadership, when the new leadership took a more lenient stance toward cryptocurrencies. (Source: ChainCatcher)
XRP-1.23%
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