Ripple CEO Brad Garlinghouse Reveals Consideration of IPO Outside US
Ripple CEO Brad Garlinghouse has disclosed that the company explored the possibility of an initial public offering (IPO) outside the United States due to its challenging relationship with the U.S. Securities and Exchange Commission (SEC).
Concerns About SEC’s Stance
Speaking at the World Economic Forum in Davos, Switzerland, Garlinghouse expressed concerns about the SEC’s stance. He stated that despite Ripple’s interest in going public, the firm has temporarily put its IPO plans on hold due to the ongoing legal battle with the SEC.
Criticizing SEC Chair Gary Gensler
Garlinghouse criticized SEC Chair Gary Gensler, describing him as a “political liability” and expressing confusion over his actions. He believes that a new chair of the SEC would be beneficial for the American people.
Ripple Explores IPO Options Outside US
Garlinghouse revealed that Ripple is considering an IPO outside the U.S. due to the “hostile” regulatory environment. He mentioned that other jurisdictions with clear rules of the road are being explored. However, he clarified that an IPO is not a short-term priority for Ripple as they do not currently need to raise capital.
Optimism for the Crypto Market in 2024
Garlinghouse expressed optimism about the crypto market in 2024, emphasizing Ripple’s focus on solving real problems for customers rather than participating in speculative cycles. He believes that this approach will put the entire industry on a positive trajectory.
Hot Take: Ripple Considers International IPO Amidst Regulatory Challenges
Ripple CEO Brad Garlinghouse has revealed that the company has explored the possibility of an IPO outside the United States due to its difficult relationship with the SEC. Garlinghouse expressed concerns about the SEC’s stance and criticized Chair Gary Gensler. He stated that Ripple is considering an IPO in other jurisdictions with clearer regulatory frameworks, although it is not a priority at the moment. Despite these challenges, Garlinghouse remains optimistic about the crypto market in 2024, emphasizing Ripple’s focus on solving real problems for customers.
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