Ripple had considered going public outside of the US due to the SEC’s hostile stance, but ultimately decided against it.
Brad Garlinghouse, the CEO of the fintech company, made this statement at a meeting in Davos. Garlinghouse explained that the idea of going public was unappealing with a regulator who is openly against the company, as the SEC must approve the public offering.
He referenced the situation with Coinbase, who was approved by the SEC but then later sued for actions already disclosed in their reporting. Currently, an IPO is not a top priority for Ripple.
The company has explored other jurisdictions with more clear regulations, but their main focus right now is not raising capital. They plan to revisit the possibility of an IPO after the SEC undergoes some changes in leadership.
Garlinghouse also expressed his dissatisfaction with SEC Chairman Gary Gensler, calling him a “political liability.”
He believes that a change in leadership will be beneficial for the American people.
