Ripple will have spent $200 million defending itself against a lawsuit from the U.S. Securities and Exchange Commission by the time it is over, CEO Brad Garlinghouse told CNBC Monday.
“With the SEC, we will spend — this is the first time I’ve shared this publicly — by the time all’s said and done, we will have spent $200 million defending ourselves against a lawsuit, which from its very beginning, people were like, well, this doesn’t make a lot of sense,” Garlinghouse said during a fireside chat with CNBC’s Dan Murphy at the Dubai Fintech Summit.
Source: Ripple will have spent $200 million fighting SEC lawsuit, CEO says
