Ripple CEO: Ripple once considered shutting down the company and distributing XRP to shareholders

Golden Finance reported on July 12 that Ripple CEO Brad Garlinghouse said that after the SEC sued the company in 2020, he and co-founder Chris Larsen had seriously considered shutting down the company and distributing the XRP they held to shareholders. Garlinghouse said they chose to fight the SEC rather than close the company— a decision that saved hundreds of jobs, but resulted in Ripple paying about $150 million in legal fees over four years.
Ripple ultimately won after a federal judge ruled that XRP itself is not a security. The case was settled last year following changes in SEC leadership, and the new leadership has taken a more relaxed stance toward cryptocurrencies.
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