Critical detail in Ripple’s IPO plan

Ripple CEO Brad Garlinghouse talked about when the company will go public. Garlinghouse says they’re waiting for the legal fight with the SEC to be over for this.. He also emphasizes that Ripple’s IPO is “very likely after a point.”

Ripple’s IPO is tied to SEC litigation

Ripple CEO Brad Garlinghouse was asked if Ripple will go public at the Consensus 2021 conference. In response, Garlinghouse said that the “probability of going public after a point is very high.” He also states that the legal issue with the SEC needs to be resolved.. After all, Ripple’s IPO also needs to be approved by the SEC. Brad Garlinghouse also draws attention to this.

This is not the first statement made regarding Ripple’s IPO.. Similar statements have been made by the authorities before.. For example, last month, the CEO of SBI Holdings, one of Ripple’s largest shareholders, said in a statement that Ripple has an IPO plan after the lawsuit was settled.

SBI CEO Yoshitaka Kitao said:

“After the current lawsuit, Ripple will go public. Current CEO wants to do that. Chris wants to do that.”

Last December, the SEC filed a lawsuit against Ripple Labs, Garlinghouse, and its co-founder Christian Larsen.. The lawsuit alleges XRP was a $1.3 billion unregistered bond sale.. Ripple, on the other hand, argues that the XRP token is a commodity and therefore does not fall under SEC jurisdiction.

XRP-USD weekly price chart – 2017-2021

After the aforementioned lawsuit, the Ripple (XRP) price dropped significantly. While the cryptocurrency market rallied significantly last April, the XRP price also increased.. While the major coins of the industry such as Bitcoin and Ethereum recorded new highs, XRP remained in a much lower position than their previous peaks.

Related – XRP activity that attracted attention in Ripple, Coinbase and top exchanges

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