Ripple’s Garlinghouse Says SEC Dropped Landmark Crypto Case

As of 07:56 AM PDT on Wednesday, March 19, 2025, Ripple CEO Brad Garlinghouse announced that the U.S. Securities and Exchange Commission (SEC) has dropped its appeal against Ripple Labs, Inc., effectively ending a landmark crypto case that began in December 2020. This news, reported by various sources including Bloomberg (Ripple’s Garlinghouse Says SEC Dropped Landmark Crypto Case – Bloomberg) and Cointelegraph (SEC will drop its appeal against Ripple, CEO Garlinghouse says), suggests a significant shift in the regulatory landscape for cryptocurrencies. The focus was on understanding the case’s background, the recent development, and its implications, ensuring accuracy and relevance for an SEO-compatible news article.

Initial research involved gathering up-to-date information from financial news and market analysis websites. The query specified Garlinghouse’s announcement, which was confirmed by multiple sources dated March 19, 2025. Bloomberg reported that the SEC case has ended, with the agency dropping its appeal, while Cointelegraph echoed this, quoting Garlinghouse’s X post (Brad Garlinghouse on X). Historical context was provided by Investopedia (SEC v. Ripple), detailing the case’s inception in 2020, where the SEC accused Ripple of selling unregistered securities valued at over $1.3 billion via XRP.

Investigating the Case Resolution

The resolution involved the SEC dropping its appeal, as announced by Garlinghouse during the Digital Asset Summit in New York on March 19, 2025. CryptoBriefing (SEC is dropping Ripple lawsuit: Ripple CEO Brad Garlinghouse) reported Garlinghouse declaring it the end of the “war on crypto,” while Yahoo Finance (Ripple’s Garlinghouse Says SEC Dropped Landmark Crypto Case) noted it as part of several enforcement actions abandoned under Trump’s early administration. The exact timing was confirmed as March 19, 2025, with no official SEC statement yet, as Bloomberg mentioned a spokesperson didn’t immediately respond.

Factors driving this resolution included the new administration’s pro-crypto stance, with Trump sharing a CoinDesk story about Garlinghouse on Truth Social and planning a strategic crypto reserve including XRP. Ripple’s alignment, including a $5 million XRP donation to Trump’s inauguration and meetings at Mar-a-Lago, was highlighted in Cointelegraph and Yahoo Finance, suggesting political influence, though not directly confirmed as the cause.

Case Background and Legal Details

The SEC’s case accused Ripple of violating securities laws by selling XRP without registration, a charge denied by Ripple, arguing XRP was a digital currency. In July 2023, Judge Analisa Torres ruled that programmatic XRP sales on exchanges were not securities, but institutional sales were, per Reuters (US SEC drops claims against two Ripple Labs executives | Reuters). This partial victory led to the SEC’s appeal, which it has now dropped, ending the case. CoinDesk (SEC Drops Charges Against Ripple CEO Garlinghouse, Chairman Larsen) noted earlier drops against executives, setting the stage for this final resolution.

Reactions and Market Impact

Garlinghouse’s statements, as per CryptoBriefing, called for industry unity, viewing this as a catalyst for standing against regulatory overreach. XRP’s price surged post-announcement, reflecting investor confidence, though exact figures weren’t detailed. The crypto community’s positive reaction was inferred from the context, with potential impacts on other SEC cases noted in CCN.com (Ripple vs. SEC Lawsuit: A Complete Timeline of the Crypto Legal Battle), suggesting a shift towards dialogue over litigation.

Data and Statistics

To provide clarity, here’s a table summarizing key data points:

Metric	Details
Case Start Date	December 2020
Partial Ruling Date	July 13, 2023, per Investopedia (SEC v. Ripple)
Appeal Dropped Date	March 19, 2025, per Bloomberg (Ripple’s Garlinghouse Says SEC Dropped Landmark Crypto Case – Bloomberg)
XRP Donation to Trump	$5 million, reported in Yahoo Finance (Ripple’s Garlinghouse Says SEC Dropped Landmark Crypto Case)
Impact on XRP Price	Surged post-announcement, exact figures not detailed