Ripple Labs once considered shutting down and distributing its XRP holdings to shareholders after the SEC sued the company.
Did Ripple Consider Shut Down?
Speaking at a University of Kansas event on July 9, CEO Brad Garlinghouse said “We almost decided to shut down the company when the SEC sued us in December 2020.”
He explained that Ripple could have wound down operations and distributed its substantial XRP (CRYPTO: XRP) holdings to shareholders on a pro rata basis.
"Ripple doesn’t own it anymore, Ripple’s gone. End of story," Garlinghouse said, describing the option executives considered at the time.
