Ripple CEO Brad Garlinghouse revealed in a March 20 interview that the SEC has officially dropped its lawsuit against him personally—a significant victory for the crypto industry. He confirmed plans to potentially reclaim $125 million in legal fees while exploring an IPO and strategic acquisitions of blockchain enterprises. Notably, 11 XRP spot ETF applications are under review, with approvals anticipated by late 2025. Ripple's stablecoin RLUSD also aims to break into the global top five by year-end.
SEC Withdraws Ripple Appeal; CEO Consumes Recouping $125M Legal Costs
The SEC initially charged Ripple in December 2020, alleging XRP was an unregistered security. A pivotal July 2023 court ruling declared XRP non-security, establishing a legal precedent. Amid shifting political winds and relaxed regulations, the SEC has recently dismissed multiple crypto-related cases, benefiting Ripple.
Though victorious, Ripple faced a $125 million penalty for early institutional XRP sales—funds now held in escrow. Garlinghouse criticized this as "former SEC Chair Gensler's power play," noting flexibility to reclaim the amount pending new SEC leadership.
XRP ETFs Gain Momentum; Potential 2025 Launch
Over 11 XRP ETF applications—including submissions by heavyweights like Bitwise and Franklin Templeton—are undergoing SEC review. Garlinghouse projects approvals could arrive as early as late 2025.
👉 Discover how XRP ETFs could reshape crypto markets
XRP May Join US Crypto Strategic Reserve
Garlinghouse referenced discussions about a potential US Bitcoin reserve and "other crypto holdings," suggesting XRP might be included. He theorized reserves could originate from government-seized assets, including XRP. While executive order details remain undisclosed, Treasury Department clarifications are expected.
Ripple Weighs IPO While Prioritizing Global Acquisitions
When asked about US listings, Garlinghouse stated IPOs remain possible but secondary to immediate M&A goals. He emphasized targeting blockchain firms specializing in financial services and payment infrastructure, capitalizing on unlocked US market opportunities.
RLUSD Stablecoin Exceeds Q1 Targets; Top Five Ambition
Launched in late 2023, RLUSD has outperformed Q1 projections. Garlinghouse aims to position it among the world's top five stablecoins by 2025's end, citing a projected tenfold growth in the $230B stablecoin market within five years through expanded exchange and institutional partnerships.
👉 Explore RLUSD's integration roadmap
US Financial Institutions Reengage With Crypto
Banks previously deterred by regulatory risks are now actively pursuing digital asset custody and cross-border payments, per Garlinghouse. He highlighted crypto's role in eliminating traditional payment delays—a key system upgrade.
Congressional Crypto Legislation Advances
Two critical bills are progressing:
- Stablecoin Bill: Now in legislative pipeline
- FIT21 Crypto Market Structure Act: Potential vote before summer recess
Transparent XRP Supply: Future Conservative Releases
Garlinghouse clarified Ripple's approach:
- Fixed 100B XRP supply (no additional minting)
- Ripple holds ~42%, disclosing quarterly releases via XRP Markets Report
- Future sell-offs may decrease per market expectations
FAQs
Q: When might XRP ETFs launch?
A: Late 2025 is the earliest projected approval date.
Q: What's RLUSD's market goal?
A: Top five stablecoin by end-2025.
Q: Will Ripple reduce XRP sales?
A: Possible adjustments based on market conditions.
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