- Ripple avoided a U.S. IPO owing to the regulatory uncertainty.
- Ripple is involved in a variety of politics, and has donated XRP to Donald Trump 2024.
Brad Garlinghouse is the CEO of Ripple and he has announced that there are no plans for the company to be listed in the US. This decision is driven by the challenging regulatory climate, and in particular, SEC’s treatment of crypto startups such as Ripple.
BREAKING: 🇺🇸 Ripple Chief Executive States The Company Has No Plans For United States IPO!
Ripple CEO @bgarlinghouse According to him, the San Francisco based company is not interested in an U.S. initial public offering (IPO) due to SEC’s apparent hostility against crypto.
Overall, Garlinghouse said he is more… pic.twitter.com/WJwB24e3FU
— Good Morning Crypto (@AbsGMCrypto) September 6, 2024
Ripple CEO urges caution in U.S. crypto operations amid SEC conflictsÂ
Garlinghouse presented the SEC’s inconsistent actions, which included approving Coinbase’s listing on the public exchange and suing the business. Ripple has a reluctance to do an IPO. Initial Public Offering Due to uncertainty in regulatory matters, there has been a surge of (IPOs) in the United States.
The Korea Blockchain Week is a great opportunity to learn about blockchain technology. Garlinghouse His concerns were broader than just the US legal landscape. One of his most important pieces of advice is that crypto startups should avoid incorporation in the United States.
He said that this would lead to increased legal costs. Ripple, for example, has experienced these directly through its ongoing battle with SEC. Garlinghouse expressed optimism for the future of the crypto-industry despite these obstacles, stating that he was more confident than ever. next Five-year plan
Ripple’s current focus is on expanding its global footprint, addressing regulatory issues and avoiding a U.S. IPO.
Ripple’s political affiliations have also sparked an interest. According to CNFThe company executives expressed their support of both political parties, and endorsed candidates for the US Presidential election in 2024.
Stuart Alderoty (Ripple General Counsel) donated $300,000 in XRP worth to Donald Trump’s election campaign. Meanwhile, other Ripple executives backed Kamala. The company has multiple opinions on politics, and this demonstrates its purposeful approach to maintaining relationships with many different political forces.
Garlinghouse also highlighted the SEC’s wider impact on cryptocurrency. He stressed that the SEC is a powerful regulator, but to take on the SEC requires resources and determination.
Ripple achieved legal victories in its battle against the SEC. This included a court ruling that drastically reduced SEC initial sanctions.
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