- Stating that despite the major legal battle, his company is in its strongest financial position ever. Ripple CEO Brad GarlinghouseAccording to the statement made by , the company’s plans to go public are still not abandoned.
In a recent interview, Ripple CEO Brad Garlinghouse stated that the San Francisco-based company will go public in the future:
“For me, in Ripple’s future; to be a publicly traded company.”
As of now, going public is not one of the company’s top priorities for Ripple, which is in the midst of a fierce legal battle with the US Securities and Exchange Commission. However, Garlinghouse said that Ripple is still serious about the IPO and is waiting for the resolution of the landmark case to move forward with its plans on this issue.
The CEO, who also did not neglect to criticize the SEC, once again accused the SEC of “shrugging”, claiming that the regulator was trying to delay the litigation process. As reported by KoinFinans, the deadline for expert discovery was extended until the end of February 28 at the request of both parties.
In January 2020, Garlinghouse told the Wall Street Journal that Ripple could go public within 12 months, but the SEC lawsuit had undermined the company’s work towards its IPO goals.
Coinbase, also a crypto company, attracted attention with its widely spoken public offering in April 2021.
Worth 15 Billion
Regulatory issues make it difficult for Ripple to do business in the US, while the company’s business continues to flourish abroad. San Francisco-based blockchain company Ripple has reached a valuation of $15 billion after buying back shares from investors participating in its Series C round.
Excited to announce @Ripple bought back our Series C (Dec 2019) shares at a $15B valuation! 1/4
— Brad Garlinghouse (@bgarlinghouse) January 26, 2022
In a recent Twitter thread, CEO Brad Garlinghouse stated that the company is in its strongest financial position ever, despite legal problems in the US. Also last month, Garlinghouse said that 2021 was the strongest year in the company’s history.
Garlinghouse said that Ripple is in a “great position” as we enter 2022 and is also “extremely optimistic” about the broader cryptocurrency industry, despite the ongoing crypto market correction.