Ripple Plans to Go Public After SEC Lawsuit Over XRP Is Resolved, CEO Says
In a surprisingly public announcement, Ripple CEO Brad Garlinghouse confirmed that the company will go public later this year. According to a report in Fortune , the announcement came during an appearance at the Yahoo Finance All Markets Summit: Crypto in San Francisco. “I do think this is a watershed moment for crypto,” Garlinghouse told the crowd. “The markets are really maturing, and I think now is the time for that next step.”
Ripple CEO Chris Larsen has said he intends to take the blockchain company public again once it settles with the SEC regarding concerns over its XRP tokens. Speaking at the Swell conference on Oct. 1, Larsen said he is aiming to take the company public before the end of 2018. In February, Ripple’s planned initial coin offering (ICO) was halted by the U.S. Securities and Exchange Commission (SEC). According to the SEC, the cryptocurrency was being sold as a security, which led to the issue being referred to the SEC Enforcement Division. With the issue seemingly closed, Larsen said he was in discussions with investment firms and other financial services companies looking to get involved in the company. Sunshine is
Ripple Labs, the San Francisco startup behind cryptocurrency XRP, plans to go public this year after resolving a lawsuit brought by the Securities and Exchange Commission, CEO Brad Garlinghouse told Fortune yesterday.. Read more about ripple: sec lawsuit update and let us know what you think.
CEO Brad Garlinghouse says Ripple could go public once the SEC lawsuit is settled. He said the chances of this ever happening are very high.
On Wednesday at the Consensus 2021 conference, Ripple CEO Brad Garlinghouse was asked if Ripple would go public. He replied that the probability is very high at some point.
Garlinghouse stressed that any plans for an IPO should wait until Ripple resolves its dispute with the US Securities and Exchange Commission (SEC). He also noted that Ripple’s public offering will eventually be approved by securities regulators.
This is not the first time the media has talked about a possible IPO for Ripple. At an earnings conference last month, the CEO of one of Ripple’s largest outside shareholders, SBI Holdings, said Ripple planned to go public as soon as the lawsuit was over. SBI CEO Yoshitaka Kitao is reported to have said: Ripple will go public after the settlement of the ongoing lawsuit. That’s what the current CEO wants to do. Chris wants to do it.
Last December, the SEC filed a lawsuit against Ripple Labs, Garlinghaus and co-founder Christian Larsen, alleging XRP is an unregistered securities offering worth $1.3 billion. Ripple argued that the XRP token was a commodity and therefore not subject to SEC jurisdiction.
What are your thoughts on an IPO for Ripple after the SEC lawsuit is resolved? Let us know your comments in the section below. Photo credit: Shutterstock, Pixabay, Wiki Commons Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any goods, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.Ripple CEO Brad Garlinghouse has said that his company’s cryptocurrency XRP will be used by more banks soon. He also said that the company has no plans to go public, at least for the time being. REACH GOALS. Read more about xrp news sec lawsuit and let us know what you think.
Frequently Asked Questions
Will ripple go public?
After an investigation by the U.S. Securities and Exchange Commission (SEC), Ripple’s CEO Brad Garlinghouse said that the company will try to go public. Ripple is said to have created billions of XRP tokens in 2015 before they were sold or given to market makers. In the meantime, Ripple has partnered with many financial institutions like UBS and Santander to streamline cross-border payments using XRP. Now, with the SEC investigation over, Ripple is ready to jump into the public markets. Ripple has come a long way since its inception in 2012, but as with most cryptocurrencies, the startup has had to contend with a litany of questions about when it will go public. Many traders and investors have been eager to get in on the action, but the company has yet to issue an IPO, which many believe is because of a lawsuit filed by the SEC last year that claimed it should have registered as a security.
Will ripple XRP reach $1000?
When you hear about cryptocurrencies, the first thing that comes to mind is a price tag. The prices of cryptocurrencies are known to fluctuate up to a lot of decimal points, sometimes making it seem more like gambling than investing. But does it really make a difference? For those who want to take the plunge and join the club, there are several things to keep in mind. The CEO of Ripple (XRP) believes that the cryptocurrency will reach $1,000 in 2018, according to a new interview. He also discussed how Ripple is approaching regulation. In a new interview with CNBC, Ripple CEO Brad Garlinghouse said he believes the cryptocurrency could reach $1,000 in 2018, a price point that he first predicted in 2015.
The price of Ripple (XRP) is down more than 90 percent since the start of the year, but that didn’t stop the company from saying it plans to go public later this year. The company launched in 2012, and has been one of the most popular cryptocurrencies, largely because of its partnership with banks. (Ripple has tested blockchain technology for more than 100 financial institutions). The company is based in San Francisco, California. In an interview with Fortune, Ripple CEO Brad Garlinghouse said the company hopes to have an initial public offering before the end of 2018. Ripple’s XRP currency has been among the best performers in the cryptocurrency space this year, and a recent report by CNBC suggests that investors are eyeing it as a potential investment opportunity. The report quotes financial expert Brian Kelly, who says that the recent regulation woes of other cryptocurrencies could be driving investors to Ripple. “Ripple is kind of the anti-bitcoin in many ways,” Kelly said. “It’s not a replacement for fiat currency. It’s a replacement for a settlement network that makes all of the currencies work together.”