• Brad Garlinghouse stated Ripple is in a “robust monetary place” and that Ripple's IPO is a “back-burner subject.”
• Garlinghouse stated Gary Gensler's “lives are numbered” as SEC chairman.
• CEO believes market headwinds will begin to subside and extra capital will circulation into the business

Ripple's CEO has stated that an IPO is just not a precedence for the corporate, due partially to a problem from the U.S. Securities and Trade Fee (SEC).

Talking on the Ripple Swell Convention, Brad Garlinghouse talked about the way forward for XRP, the SEC, cryptocurrency regulation, Ripple's new RLUSD stablecoin, and the XRP exchange-traded fund (ETF) submitting.

Concerning the IPO, Garlinghouse stated, “IPOs are usually not a excessive precedence for us, and a part of the reason being that the SEC is just not our pal.”

He added that corporations concern IPOs as a result of they need to elevate cash. Garlinghouse stated Ripple is in a “robust monetary place” having invested in numerous crypto initiatives.

“There are some dynamics at Ripple,” Garlinghouse stated. “One is you have got a hostile SEC and a hostile U.S. surroundings and you’ve got an organization that doesn't want to boost capital. So it's simply on the again burner.”

Notably, he didn’t rule out a future IPO.

headwinds are weakening

Garlinghouse cited the SEC, saying the company is “performing exterior the legislation” and calling it a “rogue company” in terms of XRP. The CEO spoke about how the SEC maintains that XRP continues to be a safety regardless of a ruling that deemed it not. In his phrases, what the company is doing is “not moral conduct.”

Regardless of the hurdles Ripple faces with the SEC, Garlinghouse stated Gary Gensler's time as SEC chairman “is numbered” and that there’ll finally be regulatory readability for the business.

Garlinghouse additionally talked about the RLUSD stablecoin, noting that the corporate has been utilizing stablecoins like USDC and Tether in its fee flows for years. He emphasised that the corporate's stablecoin goals to carry extra liquidity to the XRP ledger and substitute using USDC and Tether with RLUSD.

Looking forward to 2025, Garlinghouse believes that the headwinds impacting the market — FTX, the banking disaster, even Sen. Elizabeth Warren's feedback that cryptocurrencies are unhealthy — will start to ease. , believes extra capital will circulation into the business.