Ripple Plans to Go Public After SEC Lawsuit Over XRP Is Resolved, CEO Says
Ripple could go public after the SEC lawsuit is resolved, according to CEO Brad Garlinghouse. He reportedly explained that the likelihood of this happening is “very high at some point.”
- Ripple CEO Brad Garlinghouse was asked at the Consensus 2021 conference on Wednesday whether Ripple will become a public company. He replied that the likelihood is “very high at some point.”
- Garlinghouse stressed that any initial public offering (IPO) plans would have to wait until Ripple resolves its lawsuit with the U.S. Securities and Exchange Commission (SEC). He further pointed out that the securities regulator will be the one approving Ripple’s public offering after all.
- This was not the first time the media has reported about Ripple potentially going public. On an earnings call last month, the CEO of one of Ripple’s largest outside shareholders, SBI Holdings, said that Ripple planned to go public after the lawsuit was resolved. SBI’s CEO, Yoshitaka Kitao, reportedly said: “After the current lawsuit, Ripple will go public. The current CEO wants to do that. Chris wants to do that.”
- The SEC filed a lawsuit against Ripple Labs, Garlinghouse, and co-founder Christian Larsen in December last year alleging that XRP was a $1.3 billion unregistered securities offering. Ripple argued that the XRP token is a commodity and therefore does not fall under the SEC’s purview.
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