Ripple Explores Global IPO Amid Regulatory Struggles, Buys Back $1 Billion in Shares
Key Points:
• Ripple, the cryptocurrency firm behind XRP, considered an IPO outside the U.S. due to perceived regulatory hostility from the SEC.
• Despite initial plans, Ripple CEO Brad Garlinghouse revealed that the company has put its IPO on hold, opting to buy back $1 billion in shares instead.
• The decision to explore non-U.S. markets was driven by the desire for a regulatory environment with clearer guidelines for cryptocurrency companies.
• Garlinghouse criticized the SEC’s approach to the crypto industry, referring to SEC Chair Gary Gensler as a “political liability.”
• Ripple remains open to the possibility of an IPO, contingent on regulatory changes and the appointment of new SEC leadership.
• Shareholder liquidity is emphasized, with Ripple completing share buybacks to provide investors with an exit option after 11-and-a-half years.
Read More: https://onthenode.com/analysis/ripple-explores-global-ipo-amid-regulatory-struggles-buys-back-1-billion-in-shares
Key Points:
• Ripple, the cryptocurrency firm behind XRP, considered an IPO outside the U.S. due to perceived regulatory hostility from the SEC.
• Despite initial plans, Ripple CEO Brad Garlinghouse revealed that the company has put its IPO on hold, opting to buy back $1 billion in shares instead.
• The decision to explore non-U.S. markets was driven by the desire for a regulatory environment with clearer guidelines for cryptocurrency companies.
• Garlinghouse criticized the SEC’s approach to the crypto industry, referring to SEC Chair Gary Gensler as a “political liability.”
• Ripple remains open to the possibility of an IPO, contingent on regulatory changes and the appointment of new SEC leadership.
• Shareholder liquidity is emphasized, with Ripple completing share buybacks to provide investors with an exit option after 11-and-a-half years.
Read More: https://onthenode.com/analysis/ripple-explores-global-ipo-amid-regulatory-struggles-buys-back-1-billion-in-shares
1
1
0
1
| 16,000 mlx | |
| 12 | |
| 2 |
1 comments
As a Canadian Citizen, the antics of this (and most American politics) bemuses and confuses me. This exacting political division, and endless litigation just infuriates me and makes me embarrassed to be American-by-birth. Anyway, -let's go #XRParmy !