Ripple IPO: How likely is it that company to go public?
Ripple IPO: How likely is it that company to go public?
In recent weeks, the XRP community has been buzzing with rumors and speculation that Ripple could become a public company. Many proponents see 2024 as the ideal time for Ripple to launch an IPO.
However, prominent XRP community member and founder of Dizercapital, Yassin Mobarak, has questioned such optimistic predictions. Speaking on Platform X, he stated that it is unlikely that Ripple's IPO will take place this year or in early 2024.
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He revealed that he spoke with Ripple CEO Brad Garlinghouse at the CoinAlts-2023 symposium in San Francisco on October 26.
According to Cryptobasic, Mobarak had a fireside chat with Garlinghouse and PolySign CEO Jack McDonald to try to figure out Ripple's plans, as well as any news on Ripple's IPO status.
At the time, Garlinghouse explained that a public offering would require the U.S. Securities and Exchange Commission (SEC) to approve Ripple's S-1 registration statement, as the SEC requires issuers to file a Form S-1 for an IPO.
However, the legal standoff between Ripple and the SEC makes such approval impossible at this time. Ripple's reluctance to file for an IPO was likely due to doubts about approval until the lawsuits are resolved. Garlinghouse also noted that while there are possibilities for a liquidity event outside the U.S., no specific timeline has been set for such an event.
As such, Mobarak reached out to the XRP community with a suggestion to keep expectations low for Ripple's IPO ambitions for now.
Also read: Coinbase asks Bitcoin SV holders to withdraw their assets.
