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XRP Ripple CEO looks back on XRP's darkest days
For us who have been active in the industry since the birth of Bitcoin and the rise of the cryptocurrency market, this journey is both shining and turbulent, fully demonstrating the capricious nature of the industry. From glory to destruction, and then to rise again, one of the most touching stories comes from Ripple and XRP. Recently, Ripple CEO reviewed XRP's darkest days and prepared for a brighter future for this altcoin.
Ripple and XRP have one of the most inspiring stories in the cryptocurrency space. For those of us who have been in the industry for a long time, it was amazing to see this company move from vision to reality. It's true that most projects start this way, but only the most determined team can overcome all challenges and reach the finish line. What makes XRP stand out? Ripple CEO Brad Garlinghouse revealed that a 2020 U.S. Securities and Exchange Commission lawsuit alleging the company raised $1.3 billion through unregistered XRP sales forced Ripple to consider allocating XRP to shareholders and shutting down the company. In a speech at the University of Kansas on July 8, Garlinghouse said that despite strong government resources and legal fees of $125 million to $150 million, he and co-founder Chris Larsen chose to fight.
With its firm belief and strength, the Ripple Foundation has subsequently achieved a series of victories, such as the 2023 ruling that XRP is not a security in secondary sales and the SEC's waiver of appeal in 2025. What's more, former chief technology officer David Schwartz confirmed that lawyers had believed the company could not be saved, but Ripple withstood delisting and doubts, obtained 75 global licenses, MiCA approvals, and established partnerships with HSBC, Santander Bank, etc.
The bright future of Ripple altcoin XRP
It can be seen that Ripple not only demonstrates innovation and strong leadership, but also reflects resilience and the driving force to turn vision into reality. So despite an uphill battle with the SEC and XRP's frustrating delisting after 2020, the asset went through two years of dismal over-the-counter trading on offshore exchanges, but ultimately became stronger than ever. Before talking about success, this struggle is highlighted. Now that the XRP case has been resolved, Ripple's U.S. operations have been fully restored, licenses have been obtained in multiple jurisdictions, and global institutional partnerships continue to accumulate, banks are not just talking about it, but are really building based on the technology. This "dead" project, abandoned in 2020, is now at the center of institutional adoption.
