- Ripple’s overseas IPO reflects a skepticism toward U.S. approval.
- Blockchain researcher believes that the price of XRP will increase if Ripple is listed.
Brad Garlinghouse’s statement, that it doesn’t make sense for Ripple to be public in America, suggests that Ripple is considering other jurisdictions as a potential market. IPO.
Garlinghouse alluded to this in an interview with CoinDesk, which was hosted at the 2024 Consensus Conference. Garlinghouse, when directly questioned about Ripple’s IPO intention, voiced his doubts on going for an IPO in America.
Gary Gensler No IPO
Garlinghouse said that Ripple was not planning an initial public offer (IPO) at this time. He also gave Chairman Gary Gensler Credit the U.S. Securities and Exchange Commission for their position. Garlinghouse is skeptical that the regulator will approve Ripple’s S-1 Registration Statement for an IPO.
Earlier Lynn Martin, president of New York Stock Exchange, said applications from businesses related to blockchain, such as Ripple, were welcomed. Garlinghouse contrasted Martin’s outlook on progress with the SEC chairman Gensler.
He said that Martin was a good example of how business should be done, but Gensler’s position did not align with his progressive viewpoint.
Garlinghouse concluded that Ripple was crazy to even consider an IPO in the U.S. under current market conditions. “Going public for Ripple right now does not make any sense,” He said.
To support his argument Garlinghouse He brought up Coinbase, which is the largest exchange in the United States. He noted that the SEC previously approved Coinbase’s IPO Statement, which detailed its business activities.
In response to recent developments, Blockchain researcher Collin Brown said After Ripple’s public offering, XRP will appreciate significantly.
Garlinghouse confirms the fact #Ripple It is likely that they will do their IPO outside the U.S. As long as Gary Gensler continues to be the chair of SEC, this doesn’t really make sense.
Ripple will go public and the price of its XRP coin will soar! 🚀🚀🚀 pic.twitter.com/XCNvVfLP2o
— Collin Brown (@CollinBrownXRP) June 2, 2024
At the time this article was written, XRP valued around $0.5147The ‘down 1.08% According to CoinMarketCap, the data shows that Bitcoin has increased by a staggering 80% in just 24 hours. According to CoinMarketCap data, at least 3.93%This indicates that the market was also bearish in the seven previous days.
CNF had previously highlighted Garlinghouse’s opinion that an XRP ETF It is essential and inevitable for cryptocurrency adoption.
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Source: www.crypto-news-flash.com