SEC officially drops Ripple lawsuit: Brad Garlinghouse
Key Takeaways
- The SEC has officially dropped its lawsuit against Ripple, ending a four-year legal battle.
- The outcome has confirmed that XRP is not considered a security under the current law.
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The US SEC has dropped its long-standing lawsuit against Ripple, concluding a legal battle that spanned over four years and resulted in approximately $15 billion in losses for XRP holders, said Ripple CEO Brad Garlinghouse in a statement on X on March 19.
This is it – the moment we’ve been waiting for. The SEC will drop its appeal – a resounding victory for Ripple, for crypto, every way you look at it.
The future is bright. Let’s build. pic.twitter.com/7WsD0C92Cm
— Brad Garlinghouse (@bgarlinghouse) March 19, 2025
“I’m finally able to announce that this case has ended. It’s over,” Garlinghouse said, marking the conclusion of a case that began when the SEC filed charges against the crypto company.
The lawsuit, which Garlinghouse described as “the first major shot fired in the war on crypto,” resulted in approximately $15 billion in losses for XRP holders. The Ripple CEO emphasized that the company secured victories on key legal points, “proving that the digital asset XRP is not a security. That is now the law.”
Former SEC Chair Mary Jo White publicly stated the agency was “dead wrong” in its decision to pursue the case, according to Garlinghouse. He criticized the SEC under Chairman Gary Gensler’s leadership, stating they “went after the whole industry using the same arguments they used against us.”
During the proceedings, the SEC faced judicial criticism and sanctions for discovery abuses, with the judge rebuking the agency for lacking “faithful allegiance to the law,” Garlinghouse noted.
“This is a fight Ripple never wanted, but one we knew we had to win. And today, emphatically, we have,” Garlinghouse said, expressing gratitude to Ripple employees, the legal team led by Chief Legal Officer Stu Alderody, and the broader XRP community.
The resolution comes as new leadership in the executive and legislative branches seeks to establish a regulatory framework for crypto assets in the US, according to Garlinghouse, who called for making the US “the crypto capital of the world.”
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