Ripple CEO Garlinghouse: SEC Proceedings almost led to company closure

Ripple CEO Brad Garlinghouse states that the December 2020 United States Securities and Exchange Commission (SEC) proceedings against the company almost led to Ripple ' s closure. Garlinghouse noted that Ripple's leadership had given serious consideration to closing the business, even offering to allocate the company's XRP holdings to shareholders, and to tell the regulator that Ripple no longer owned the XRP. Finally, Garlinghouse and co-founder Chris Larsen chose to fight SEC in court. The case was considered to affect the future of the entire encryption industry, and Ripple decided to defend itself rather than give up. Despite pressure, Ripple continues to expand globally, adding new payment partners, developing enterprise block chains and investing in infrastructure in legal disputes with the SEC. Following the full resolution of the SEC case in August last year, Ripple subsequently re-established operations in the United States, obtained licences from several jurisdictions, expanded institutional cooperation and introduced the RLUSD stabilization currency。