Ripple CEO: We are thinking about the initial public offering of Ripple shares in 2020
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Answer Ripple CEO: We are thinking about the initial public offering of Ripple shares in 2020
Ripple CEO Brad Garlinghouse has hinted that he could enter into an initial public offering (IPO) of Ripple shares.
The hint and touch on this topic was referred to by “Garlinghouse” on Thursday, January 23, during his speech at the World Economic Forum in “Davos” to surprise the public with his statements.
He predicts that in 2020, more companies specialized in the blockchain and crypto industry are likely to launch their IPOs.
Besides, Garlinghouse indicated that Ripple could be one of those companies seeking an initial public offering (IPO).
During an interview with The Wall Street Journal, he stated:
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In the next 12 months, we will see several IPOs in the crypto/blockchain space.
We won’t be the first nor the last, but I expect us to be at the fore…
It is a natural development for our company.
Despite the regulatory tightening, Ripple appears to be very confident in its future.
In addition, the CEO of Ripple is making some strong predictions.
Garlinghouse stated that he expects the US government to acknowledge Ripple’s efforts in developing rapid payment solutions.
Ripple CEO commented after meeting US Treasury Secretary Steven Mnuchin in Davos.
As Mnuchin noted:
There are benefits to cross-border payment systems in lowering costs for consumers and businesses.
We fully support the companies working on it.
Ripple Facing XRP-related Lawsuits:
Although the CEO of Ripple is making some bold predictions for an IPO, his company still faces lawsuits over the XRP ICO in 2013.
Over the past two years, several individual investors have petitioned that Ripple sold its XRP tokens as unregistered securities.
The SEC is currently evaluating these allegations against Ripple.
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However, the company is confident that it has not violated any regulations and will emerge from the mess.
It will be interesting to see if the regulator will allow Ripple to hold an IPO.
At the moment, the community has an uncertain opinion about a potential IPO and the role of XRP in the process.
# xrp Panic in the IPO issue. The IPO is completely separate. The question you should be asking is the value of XRP as a use case. Not what Ripple’s IPO means. There must be something serious under the hood for the 10b valuation and IPO. This includes xrp. Think before you throw out.
– Thomas (@tommyirl) January 24, 2020
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But looking at the SEC, we can see that it has always been tough on crypto companies.
But just two months ago in November 2019, California-based Silvergate Bank became a public bank through an initial public offering.
Silvergate Bank offers digital business focused services with clients such as miners, digital wallet custodians and exchange platforms.
Finally, given that 2019 is definitely not a good year for XRP investors.
While the overall cryptocurrency market has seen an uptick, XRP from Ripple has been a top ten cryptocurrency with negative returns.
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