Ripple Plans More Buybacks, CEO Says No Plans to Go Public in the U.S.
The CEO of Ripple, Brad Garlinghouse, has stated that the company plans to conduct more buybacks of its digital token, XRP, in order to provide liquidity for investors. However, he also mentioned that Ripple does not intend to take the company public in the United States due to regulatory uncertainties.
Expansion in Europe and Africa
Following the dismissal of all charges against its executives in a lawsuit brought by the Securities and Exchange Commission (SEC), Ripple has been focusing on expanding its presence in Europe and Africa.
In addition, Garlinghouse revealed that Ripple holds over $1 billion in cash and more than $25 billion in digital assets, primarily consisting of XRP coins.
About the Author
RT Watson is a senior reporter at The Block who covers various topics including blockchain gaming, NFTs, and U.S.-based companies. With previous experience covering entertainment at The Wall Street Journal and corporate news in Brazil at Bloomberg, RT has conducted interviews with a wide range of individuals from CEOs to convicted criminals. They hold a master’s degree in Digital Sociology.
Hot Take: Ripple’s Strategic Moves
Ripple’s CEO’s announcement regarding additional buybacks of XRP tokens demonstrates the company’s commitment to providing liquidity for investors. By avoiding going public in the U.S., Ripple aims to navigate regulatory uncertainties effectively. Expanding its operations in Europe and Africa further indicates Ripple’s focus on global growth. With significant financial holdings in both cash and digital assets, including XRP coins, Ripple solidifies its position as a major player in the crypto industry. These strategic moves position Ripple for continued success and influence within the market.
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