In a widely circulated internal memo, Ripple CEO Brad Garlinghouse revealed that the company has been “working with the SEC” on the approval of a potential XRP offering. Though the SEC denied the motion to dismiss the case, Ripple has pledged to proceed with their plans. Recently, XRP surged to 20% of its all-time-high price.
The lawyers are going to be taking some time off from their vacation. That’s because the US Securities and Exchange Commission (SEC) has filed a lawsuit against Ripple Labs Inc., the company that created the XRP token, alleging that it is a security and the company is violating securities laws. Although a number of XRP holders have asked the SEC to provide clarification on whether XRP is a security, this is the first time the agency has issued an opinion on the matter.
In a recent interview, Brad Garlinghouse, CEO of Ripple, stated in a live show that “Ripple is going to go public this year”, and that “We are hoping to go public in June or July.” Ripple is a decentralized cryptocurrency that negates any centralized authority, and has been described as the “oil for the cryptocurrency movement.”. Read more about xrp news and let us know what you think.
US-based Ripple, a blockchain-based cross-border money transfer service, has already announced plans to go public. However, this is not possible due to ongoing litigation with an independent agency of the U.S. Securities and Exchange Commission (SEC). However, a senior executive said the company is considering going public after a legal battle with the SEC. Brad Garlinghouse, chief executive officer (CEO) of Ripple, recently spoke at the Consensus 2021 conference, where he laid out the blockchain payments giant’s futuristic plans. In one of his remarks, he confirmed that plans for an IPO of the company are still imminent and that the company will take action soon. According to him, once the legal battle between the SEC and Ripple Labs is over, the company will move forward to become a publicly traded company. In this respect, he stated that the company was exploring the different options it could choose at the beginning of last year. However, he said the SEC’s allegations have caused delays in the process. But the company is now waiting for the lawsuit to end, after which it plans to go public again. The legal war between the two organizations continues, and it does not look like it will end, as it is now.
XRP is not inflationary, says Brad Garlinghouse
Brad Garlinghouse also came up in another interview where he shared his thoughts on Ripple’s inclusion in the list of 50 most disruptive companies. I’m honored that @Ripple is on CNBC’s #Disrupter50 list this year. It really is the most exciting time to be working in the crypto industry, and the good news is that Ripple is hiring! 1/2 https://t.co/WDu1JeutHe https://t.co/8GD8YsNIz8 – Brad Garlinghouse (@bgarlinghouse) May 26, 2021 In the interview, he explained that XRP, Ripple’s own crypto-currency, is not subject to inflation, unlike the world’s two largest digital currencies, Bitcoin and Ether.Yesterday, Ripple CEO Brad Garlinghouse confirmed his company will be filing for an IPO after the SEC has filed a lawsuit against the firm. He says the company is in a position to file after the lawsuit is resolved. He also said that if the SEC doesn’t grant XRP a status as a security token, the company will be forced to launch an ICO or “ask the community if they agree that XRP should be considered a security.”. Read more about ripple xrp and let us know what you think.
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