Cryptocurrency company Ripple Labs did not hold an IPO in the United States due to “hostile” actions by the Securities and Exchange Commission (SEC). Ripple CEO Brad Garlinghouse stated this in an interview with CNBC at the World Economic Forum in Davos.
According to Garlinghouse, his company considered “other jurisdictions that have clear regulatory rules” to go public, but ultimately postponed the IPO.
“In the United States, trying to go public with a very hostile regulator who approved your S-1 [filing], I don't think is very fun. Coinbase (NASDAQ:COIN) received S-1 approval and now the SEC is suing them for what was stated in that S-1 form," Garlinghouse said.
