Brad Garlinghouse, Ripple CEO, made a significant announcement at the recent World Economic Forum held in Davos, Switzerland, that Ripple is considering going public in an initial public offering (IPO).
However, the plan is to do it outside the United States, and this stems from what Garlinghouse sees as a ‘hostile’ regulatory stance from the U.S. SEC.
Brad Garlinghouse expressed in a CNBC interview that attempting to go public in the United States with a regulator displaying hostility, despite having an approved S-1, does not seem enjoyable to him.
He pointed out that Coinbase had its S-1 approved, yet the SEC is now suing them for actions that were clearly outlined in their S-1.
In the context of U.S. IPOs, an S-1 is a crucial document filed with the SEC, providing detailed information about a company’s financial performance and associated investment risks.
In the United States, the Ripple CEO has expressed a willingness to consider going public despite facing a very hostile regulator. He stated that the option of an initial public offering (IPO) is being kept open and will be evaluated over time.
The CEO emphasized that while they will assess the situation, it is currently not an immediate-term priority for Ripple, especially considering the challenges posed by the regulatory environment, including the presence of new regulators at the United States SEC.
