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Home»BITCOIN NEWS»Ripple CEO Says IPO Is Possible, But SEC Boss Raises Challenge
BITCOIN NEWS

Ripple CEO Says IPO Is Possible, But SEC Boss Raises Challenge

By Crypto FlexsJanuary 17, 20243 Mins Read
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Ripple CEO Says IPO Is Possible, But SEC Boss Raises Challenge
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CEO of Ripple, Brad Garlinghouserevealed the possibility of releasing Ripple through Ripple. Initial public offering (IPO). However, he said such a move was not currently a priority for the company, citing the unfavorable regulatory environment in the United States.

Ripple CEO reviews IPO prospects

In recent years CNBC Interview, Garlinghouse examined Ripple’s strategic plan for 2024 and its potential imminent release. When asked what the company’s focus and outlook are for 2024, Garlinghouse said the company’s top priorities are its core products: Ripple payment system.

He expressed his intention to further expand the company’s presence. Payments and Vertical Markets We are strengthening our presence in the expanded storage market through 2023, while also strengthening our presence globally.

In response to inquiries about profitability and revenue growth expectations for 2024, the Ripple CEO noted that Ripple has already achieved important milestones: buy again It holds $1 billion worth of stock from shareholders. He emphasized the importance of the company’s share buyback plan, emphasizing: Ripple IPO It wasn’t a priority for the company at the moment.

Garlinghouse has expressed reservations about listing in the U.S. due to the difficult regulatory environment, particularly the U.S. Securities and Exchange Commission (SEC).secretary). When asked whether Ripple will maintain its potential, IPO launch pending As for whether or not to explore options outside the United States, Garlinghouse positively affirmed, “Yes.”

He continued, “I don’t think of IPO as an exit. I see the IPO as a step in the journey.”

Ripple CEO said the company has looked at other regulation-friendly jurisdictions outside of the US. However, he said that an IPO priority is not currently on Ripple’s agenda as the company does not need to raise capital.

Nonetheless, Garlinghouse asserted that the possibility of pursuing an IPO would remain open until the need arises.

XRP price at $0.58 | Source: XRPUSD On Tradingview.com

Garlinghouse, SEC A Liability Statement

In the interview, Garlinghouse named the US SEC chairman: Gary Gensler, considered a “political liability” within the United States. The Ripple CEO highlighted the SEC’s numerous setbacks in its efforts to regulate cryptocurrencies, citing multiple losses and stringent enforcement actions in the lawsuit.

In addition to the legal dispute with Ripple, the SEC also filed lawsuits against various cryptocurrency companies and exchanges. Attempts to block entry by such entity Bitcoin ETF Spot It failed to succeed in the cryptocurrency market after a U.S. appeals court ordered the agency to overturn its denial. Grayscale’s Spot Bitcoin ​​ETF application.

Garlinghouse acknowledged the potential for challenges such as: Ethereum spot ETF approved However, he expressed confidence in final acceptance. He argued that the SEC’s actions were not in the interest of citizens or long-term economic growth. He also revealed his beliefs. New SEC Chairman It will bring positive change to America.

Featured image from Bitcoin Sistemi, chart from Tradingview.com

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