Ripple CEO Brad Garlinghouse has revealed that former SEC Chair Gary Gensler personally apologized to him following the end of the long-running legal battle between Ripple and the U.S. SEC.
Garlinghouse made this revelation during a panel discussion at XRP Australia Sydney 2026 on February 27. He recounted an unexpected encounter at the White House, where Gensler reportedly approached him and offered a direct apology.
Key Points
- Brad Garlinghouse said Gary Gensler apologized at the White House, admitting he was wrong.
- The remarks came at XRP Australia Sydney 2026, months after the SEC case ended.
- Ripple and the SEC dropped appeals in 2025, closing the nearly five-year lawsuit.
- Garlinghouse says Ripple’s focus on utility paid off as it enters a new chapter.
“Sorry, I Was Wrong”
According to Garlinghouse, Gensler walked up to him and said, “Sorry… I was wrong, and you guys have done an incredible job.”
He added that it felt unusual that such a moment happened inside the White House. Meanwhile, he noted that it signaled how far the company has come after years of regulatory pressure.
Garlinghouse emphasized that Ripple remained focused on utility throughout the legal storm and expressed strong optimism about the company’s future.
From Legal Battle to Resolution
The reported apology comes several months after Ripple and the SEC formally ended their nearly five-year courtroom fight.
In August 2025, the SEC and Ripple jointly filed a motion to dismiss their appeals and cross-appeals in the Second Circuit. The move effectively closed the case.
Ripple’s Chief Legal Officer, Stuart Alderoty, confirmed at the time that the lawsuit had reached its end. He described the development as a “return to business as usual” for the company.
The case originally began on December 22, 2020, when the SEC accused Ripple of conducting unregistered securities sales through XRP. After a prolonged legal struggle that reportedly cost Ripple more than $150 million, U.S. District Judge Analisa Torres delivered a split ruling in July 2023.
She determined that XRP itself is not a security and that programmatic sales on exchanges did not constitute investment contracts. However, she ruled that Ripple’s past institutional sales violated securities laws and imposed a $125 million fine along with a permanent injunction on future institutional sales.
Both sides initially appealed portions of the ruling. The SEC, under Gensler’s leadership, challenged the programmatic sales decision, while Ripple filed a cross-appeal regarding its institutional sales. However, shifting regulatory dynamics following the re-election of Donald Trump led to settlement discussions.
By early 2025, the parties agreed to pursue a resolution. Although Judge Torres declined to modify her final judgment, she encouraged both sides to withdraw their appeals. The joint dismissal filing ultimately ended the dispute once and for all.
Focus on Utility
During the Sydney panel, Asheesh Birla, CEO at Evernorth and a fellow panelist, praised Ripple’s approach to the legal battle. He suggested that while the company may have taken a longer and more difficult path, it ultimately proved to be the correct one.
Garlinghouse echoed that sentiment, stating that if Ripple continues to stay the course and focus on real-world utility, the road ahead looks increasingly bright.
To the XRP community, the reported apology marks a symbolic turning point from regulatory confrontation to validation as Ripple moves forward with clarity in the post-lawsuit era.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.