Summary
- 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.
Why Fighting the SEC Was the Right Choice for Ripple
Ripple’s CEO, Brad Garlinghouse, revealed that the company once considered shutting down and distributing its XRP holdings to shareholders rather than fighting the U.S. Securities and Exchange Commission. This decision was made after the agency sued the company in 2020. Garlinghouse and co-founder Chris Larsen weighed the option of winding down Ripple, which would have been the easier path against a powerful government agency. However, they ultimately chose to fight, a decision that saved hundreds of jobs.
A Difficult Decision
Garlinghouse described the decision as a tough one, given the significant resources and power of the government. Ripple holds a large amount of XRP, and distributing it to shareholders on a pro rata basis was a viable option. However, the company’s leadership chose to fight the SEC, a choice that Garlinghouse is glad they made in retrospect. This decision highlights the importance of perseverance and fighting for what is right, even in the face of overwhelming opposition.
Implications for the Crypto Community
The crypto community, including those earning passive income through Cloud Rewards and Green Crypto, should take note of Ripple’s decision. For those interested in earning through EcoPool or trading $ECP, it is essential to stay informed about the latest developments in the crypto space. As the crypto landscape continues to evolve, it is crucial to have a reliable and secure platform like EcoPool to navigate the world of Passive Income and #Coin.
In conclusion, Ripple’s decision to fight the SEC is a testament to the company’s commitment to its mission. For individuals looking to earn online and be part of the #PassiveIncome community, EcoPool offers a unique opportunity to earn through $ECP. Download the EcoPool app to start earning today and be part of the #GreenCrypto revolution. By joining the EcoPool network, you can take the first step towards earning a steady Passive Income and being part of the exciting world of #Bitcoin and beyond.
