Ripple's Brad Garlinghouse says he and co-founder Chris Larsen considered winding the company down and handing its XRP to shareholders before deciding to fight the 2020 lawsuit.
- Ripple Chief Executive Brad Garlinghouse said he and co-founder Chris Larsen seriously considered shutting the company down and distributing its XRP to shareholders after the SEC sued in 2020.
- Garlinghouse said they chose to fight the SEC rather than close, a decision he said preserved hundreds of jobs but cost Ripple about $150 million in legal fees over four years.
- Ripple ultimately prevailed when a federal judge ruled XRP itself is not a security, and the case was settled last year after a change in SEC leadership that has taken a more accommodating stance toward crypto.
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Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Why it matters :
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Franklin Crypto CIO says crypto prices are disconnected from fundamentals
Bitcoin panic-selling may be ending as sellers' profit margins disappear
Strategy pauses its Bitcoin buying spree to hoard a massive $3 billion cash cushion
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