Ripple Contemplates Going Public as SEC Lawsuit Edges Closer to Resolution
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Ripple Labs, the creator of XRP, is speculated to be contemplating a leap onto the public stage, according to a revelation from Eleanor Terrett, a distinguished Fox Business correspondent.
The Road to Public Listing
The company hosted an exclusive “roadshow” in April, a strategic maneuver traditionally utilized as a precursor to an Initial Public Offering (IPO). The event reportedly attracted a who’s who of institutional investment behemoths from Wall Street, suggesting an unmistakable interest in the potential IPO.
Ripple’s cryptic roadshow came amid a grueling two-year legal skirmish with the SEC, a fight that has drained more than $200M from Ripple’s coffers. Despite this, whispers of a resolution by June are swirling within the industry, with high-profile figures such as Ethereum and Cardano founder Charles Hoskinson joining the chorus.
The Impending Verdict: A Blessing or a Curse?
XRP’s bullish sentiment is currently precariously tethered to the positive outcome of its lawsuit against the SEC. A victorious result could trigger a momentum surge, potentially increasing the demand for the token, thus escalating its price and attracting new investors to the platform.
John Deaton, a renowned crypto attorney, and XRP advocate, however, posits that even an unfavorable outcome could be far from catastrophic. Reacting to news of the roadshow, Deaton suggested that if Ripple triumphs or receives a relatively mild reprimand, along with a ruling that future XRP sales aren’t securities, it could end up being a boon for the company.
Ripple Labs CEO, Brad Garlinghouse, has exhibited growing confidence as the case has progressed, bolstered by a series of minor wins against the SEC, which has in turn bolstered XRP investors.
Notably, the recent disclosure of the Hinman documents, featuring a 2018 speech by the former SEC director arguing the commodity status of cryptocurrencies, has been hailed as a significant win for Ripple. This sentiment is echoed by the present chair of the CFTC.
Filed under: Bitcoin - @ June 2, 2023 1:25 pm