Ripple nearly shut down in 2020 after being sued by the SEC but chose to fight on, spending $150 million in legal costs and preserving hundreds of jobs. According to Ripple CEO Brad Garlinghouse, the company considered distributing its XRP holdings to shareholders due to regulatory pressures.
However, instead of shutting down, Ripple continued to build blockchain payment infrastructure and expanded into Europe with a new crypto license. A 2023 court ruling partially favored Ripple but imposed a $125 million penalty and restrictions on institutional XRP sales.