Ripple once weighed shutting down and handing XRP to shareholders, CEO says
Ripple CEO Brad Garlinghouse revealed the company considered shutting down and distributing XRP to shareholders rather than fighting the SEC's 2020 lawsuit. The firm chose to fight, incurring $150 million in legal fees over four years but preserving hundreds of jobs. Ripple ultimately won when a judge ruled XRP isn't a security, with settlement following after new SEC leadership took a crypto-friendly stance.
Key takeaways
- 1Ripple spent $150 million in legal fees over four years fighting the SEC's 2020 lawsuit rather than shutting down.
- 2Judge Analisa Torres ruled XRP itself is not a security, validating Ripple's position after the lengthy legal battle.
- 3The case settled in May 2025 after new Trump administration SEC leadership took a more crypto-friendly stance.
Coins in this story
Why it matters
Ripple's victory sets a legal precedent clarifying XRP's regulatory status in India and globally, potentially easing institutional adoption. The shift toward crypto-friendly SEC policy under new leadership signals improved regulatory certainty for Indian investors holding or trading XRP and similar tokens.
Related stories
Bitcoin, ether little changed as U.S. launches fresh Iran strikes
Bitcoin held steady near $63,800 despite fresh U.S. airstrikes on Iran and Tehran's Strait of Hormuz closure declaration. Major cryptocurrencies including ether, XRP, and dogecoin showed minimal daily moves. Weekend closures in traditional markets leave crypto as the sole asset pricing geopolitical escalation in real-time, with fuller reactions expected Monday when oil and equities resume trading.
Lending protocol Bonzo loses 77% of value locked as $9 million oracle exploit rattles Hedera
Bonzo Lend lost approximately $9.05 million after an attacker exploited a verification flaw in a third-party Supra oracle contract on the Hedera network....
Bitcoin’s BIP 110 fork deadline nears with miner support at zero
Bitcoin's contentious BIP-110 proposal aims to cap arbitrary blockchain data for one year but faces an early August deadline with less than 1% miner support. Major figures like Michael Saylor and Adam Back oppose the measure, arguing it sets a dangerous precedent for consensus changes over policy disputes. Without overwhelming support, BIP-110 will likely create only a minority chain rather than network-wide adoption.