Ripple almost shut down rather than fight the U.S. Securities and Exchange Commission, Chief Executive Officer Brad Garlinghouse said, describing a decision he and co-founder Chris Larsen faced after the agency took the company to court in 2020.
Speaking at the University of Kansas School of Business earlier this week, Garlinghouse said the two had seriously considered liquidating Ripple and distributing its XRP holdings to shareholders. He described this as the easier route, against a government he said had “infinite power and resources”.
Ripple holds a large amount of
But they chose to fight because a closure would have cost hundreds of jobs. “Looking back, I’m happy, but it wasn’t easy at the time,” he said.
