[Ripple is considering an IPO outside the United States, but its CEO says there is no point in listing it in the United States]
In an interview at the Consensus 2024 conference hosted by CoinDesk, Ripple CEO Brad Garlinghouse revealed that Ripple currently has no plans to conduct an IPO (initial public offering). Garlinghouse attributes this stance to the leadership of Securities and Exchange Commission (SEC) Chairman Gary Gensler. He noted that Ripple’s S-1 registration statement would need approval from the SEC, but he expressed doubts about that.
Previously, New York Stock Exchange (NYSE) President Lynn Martin had expressed that she welcomed crypto-related companies like Ripple to apply for listing. Garlinghouse contrasted Martin's forward-thinking attitude with Gensler's stance, praising Martin as an example of the direction the industry should take, but unfortunately Gensler's stance did not align with this progressive view. Therefore, Garlinghouse concluded that under the current circumstances, it would be unreasonable for Ripple to consider a public listing in the United States, saying: "A public listing in the United States currently makes no sense for Ripple."
A pseudonymous XRP enthusiast on the X platform noticed Garlinghouse’s announcement. Garlinghouse also cited the Coinbase situation to support his point. He noted that the SEC previously approved Coinbase’s IPO statement, which detailed its business operations. However, the regulator subsequently launched legal action against the exchange, accusing it of allowing trading of unregistered crypto assets, contradicting previous approvals. Garlinghouse hinted that in hindsight, Coinbase may regret its decision to go public in the U.S. because of subsequent SEC action.
As a result, Garlinghouse mentioned that Ripple is considering the possibility of an IPO outside the United States. He said that in the current regulatory environment, exploring the option of international listing is one of the strategies that Ripple may adopt.
