Ripple CEO Brad Garlinghouse revealed that after the SEC sued Ripple in 2020, he and co-founder Chris Larsen considered shutting down the company and distributing XRP to shareholders. They chose to fight the lawsuit instead, preserving hundreds of jobs but incurring about $150 million in legal fees. The legal battle ended favorably for Ripple when a federal judge ruled that XRP is not a security, and the case was settled last year following a change in SEC leadership that adopted a more crypto-friendly stance. This decision was crucial in shaping Ripple's future and the broader crypto regulatory landscape.
Ripple CEO Brad Garlinghouse revealed the company seriously considered closing after the SEC sued it in 2020, even planning to distribute XRP holdings to shareholders. They chose to fight the lawsuit despite spending about $150 million on legal costs...
Ripple co-founder Chris Larsen revealed that early legal advisers once deemed the company unsavable and suggested abandoning it due to legal and regulatory challenges. Despite this, Ripple persevered, building blockchain payment infrastructure and ex...
Bitcoin remained around $63,800 with minimal daily changes after the U.S. launched its third airstrike on Iran this week and Iran declared the Strait of Hormuz closed. Other major cryptocurrencies like ether, XRP, and dogecoin also showed little move...
Ripple's CEO Brad Garlinghouse revealed that in 2020, during its legal fight with the SEC, the company considered shutting down and distributing its XRP holdings to shareholders. This plan was due to regulatory pressures and the significant XRP suppl...
Ripple CEO Brad Garlinghouse revealed the company almost shut down after the SEC sued in 2020, accusing Ripple of unregistered XRP sales. The legal battle lasted five years, costing Ripple $125 million but resulted in a key court ruling distinguishin...
