Ripple CEO Brad Garlinghouse announced that his company and the SEC are terminating efforts to resolve their unresolved cross appeal. Judge Torres rejected this yesterday, officially marking the final setback.
In other words, Ripple has no way to appeal the Gensler-era decision prohibiting the sale of securities to individual investors. However, Garlinghouse is looking forward to new opportunities in other areas.
Ripple Abandons SEC Appeal Procedure
The Ripple vs SEC case was a significant event in cryptocurrency regulation, but even after the case was closed, the scene was not over. Both sides have tried to resolve the remaining issues over the past few months: a cross appeal regarding non-institutional securities sales. Today, Ripple CEO Brad Garlinghouse announced that the company is finally giving up:
Ripple is dropping our cross appeal, and the SEC is expected to drop their appeal, as they've previously said. We're closing this chapter once and for all, and focusing on what's most important โ building the Internet of Value. Lock in. https://t.co/ZsRgDfcpLh
โ Brad Garlinghouse (@bgarlinghouse) June 27, 2025
Essentially, Ripple was bound by the previous court decision from the Gensler era. The SEC now has a more cryptocurrency-friendly stance and tried to collaborate with Ripple to overturn this ruling. Unfortunately, their collaboration was not enough.
Judge Torres rejected their request yesterday, and new efforts could take months. Facing this challenge, Ripple and the SEC do not think the fight is still worthwhile. The company may be permanently banned from selling securities to retail investors. However, this will secure time and resources to build a new future in other areas of interest.
