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Ripple hasn’t abandoned its plans to go public
In a recent interview, Ripple CEO Brad Garlinghouse said that the San Francisco-based company would eventually go public in the future:
I think ultimately the future for Ripple is that we will be a public company.
As of now, holding an initial public offering is not a priority for the company, which is in the middle of a grueling legal battle with the U.S. Securities and Exchange Commission.
Garlinghouse has reiterated that Ripple is waiting for the resolution of the landmark lawsuit in order to move forward with IPO plans.
He has once again accused the SEC of “dragging its feet,” claiming that the regulator keeps trying to delay the litigation process.
As reported by U.Today, the expert discovery deadline has been extended to late Feb. 28 at the request of both parties.
In January 2020, Garlinghouse told the Wall Street Journal that Ripple could go public within 12 months. However, the SEC lawsuit threw a wrench into the works for the company’s IPO ambitions.
Coinbase, the leading U.S. exchange, stole the spotlight with its widely covered public debut in April 2021.
While regulatory woes made it challenging for Ripple to do business in the U.S., the company’s business continues to thrive abroad. The valuation of the distributed ledger data provider has now reached $15 billion after performing a stock buyback.
Garlinghouse says that Ripple says that it is in a “great position” at the start of 2022. He also feels “incredibly optimistic” about the broader cryptocurrency industry despite the ongoing cryptocurrency market correction.