The U.S. Securities and Exchange Commission (SEC) has decided to drop its legal case against Ripple Labs’ CEO, Brad Garlinghouse, and Executive Chairman, Chris Larsen. This is Ripple’s third recent legal victory in its ongoing battle with the SEC. Amid the legal hush-hush, Ripple recently posted a job listing for a senior manager of shareholder communications on October 16. This move has led many cryptocurrency enthusiasts to believe Ripple might be planning to go public.
In an interview with the host of Thinking Crypto, Ray Fuentes, the Community Director at Linqto, has now expressed optimism about the possibility of Ripple going public with an Initial Public Offering (IPO) in 2024. Fuentes discussed the potential timing and the factors that might lead to Ripple’s IPO.
Fuentes acknowledged that the market conditions might not be ideal for an IPO due to the quantitative tightening period. However, he pointed out that 2024 promises increased liquidity and optimism, making it a favorable year for such a move. He referenced a statement by Jeremy Allaire, CEO of Circle, who believes 2024 could be the year when stablecoins, like USDC, are recognized as real money. Fuentes suggested that this could align with Ripple’s plans.
He highlighted Ripple’s unique position in the industry, saying the company’s role in pioneering innovative technologies like the iso20022 payment repository. Additionally, Fuentes noted Ripple’s extensive patent portfolio and global relationships with major financial institutions, making it well-prepared for an IPO.
While Fuentes couldn’t provide a specific timeline for Ripple’s IPO, he expressed his hope and optimism for it to happen sooner rather than later. He stressed that Ripple’s impact extends to the crypto community and traditional finance, marking an exciting era in modern finance.
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