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Crypto firm Ripple explored IPO outside of U.S. because of 'hostile' SEC, won't go public soon - TL;DR CNBC

Crypto firm Ripple explored IPO outside of U.S. because of 'hostile' SEC, won't go public soon

Publishing timestamp: 2024-01-16 19:25:08


Summary

Ripple explored markets outside the U.S. for its initial public offering (IPO) due to a "hostile" regulator, but has put its IPO plans on hold for now. The CEO, Brad Garlinghouse, stated that Ripple will explore a public listing after its lawsuit with the U.S. Securities and Exchange Commission (SEC) ends. Garlinghouse criticized the SEC's approach to regulating the crypto industry and expressed the possibility of considering a U.S. listing once there is a new chair of the SEC. Ripple has bought back $1 billion of its stock and is keeping the option of an IPO open for evaluation in the future. The article also mentions that Coinbase, another crypto company, had its S-1 approved by the SEC but is now being sued by the SEC. Additionally, it notes that Circle, the company behind stablecoin USDC, has filed for an IPO in the U.S. this month.


Sentiment: MIXED

Tickers: XRP.CM=BTC.CM=

Keywords: marketsripple/usd coin metricsgary genslereconomycryptocurrencybitcoin/usd coin metricsbusiness newstechnologyunited statesbitcoinbreaking news: economysec

Source: https://www.cnbc.com/2024/01/17/crypto-firm-ripple-explored-ipo-outside-us-but-wont-go-public-soon.html


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