Ripple CEO Considered Closing Company During SEC Lawsuit

Brad Garlinghouse, the CEO of Ripple, revealed that he seriously considered shutting down the company shortly after the SEC's lawsuit in 2020. He explained that the government had unlimited resources and authority, making it difficult to continue the legal battle. However, he decided to proceed with the lawsuit to protect employees and the ecosystem. Ripple has endured years of legal disputes and is currently rebuilding its U.S. operations while expanding its global business through securing the EU MiCA license and increasing institutional partnerships. Garlinghouse mentioned that closing the company would have been an easier choice at the time of the SEC's filing, and if the company had been wound down, he considered distributing XRP to shareholders and notifying the SEC that it no longer held XRP. However, he noted that this would have resulted in hundreds of employees losing their jobs, and he was ultimately glad that such a choice was not made. Ripple was sued by the SEC on the grounds that XRP sales constituted unregistered securities, but the court later ruled that XRP itself is not a security. The XRP community is paying attention to Ripple's changes, noting that Ripple's U.S. operations are normalizing and that it has secured business licenses in several countries.

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