Startup Ripple will solve problems with the SEC and enter the IPO
26.05.2022
The Ripple chief did not refute the organization's plans to conduct an initial setup of shares after its positive resolution of issues with the control body of the United States of America.
During the World Economic Forum, which was held in Davos, Brad Garlinghouse was interviewed for various economic journals. He said that the organization is working to implement the IPO immediately after the successful completion of the process in court with the SEC. Additionally, it was noted that the organizations had made great progress in litigation. This suggests that its entry into the trading floor can be realized already at the end of this year.
“As a result of the litigation with the Commission, we plan to obtain stability and guarantees for our position in the States. I think that this supervisory body will not, intends to extend the hearing even longer than it has already been implemented.”
In addition to this, he added that today the startup has undoubtedly moved to the level of active development, when its entry into the cryptocurrency market has become as real as possible. "This process will be reviewed immediately after the case is closed."
The SEC filed a lawsuit against the Ripple organization in 2020. It said that XRP, by definition, can be classified as a security class. Based on this, since 2013, without a special license, all operations were illegal. But the company does not confirm this theory and says that XRP is a typical cryptocurrency asset, like the well-known Bitcoin and Ethereum. Therefore, the securities law should not affect him.
A year ago, the head of Ripple already said similar words about entering the IPO and completing the hearing. At that moment, all market participants accepted these words as one of the ways to warm up interest in the asset.
Most likely, the organization is now taking similar actions so that during the period of forced calm, investors do not forget about the asset and the crypto winter does not come. Now XRP has lost about 40 percent of its total value in a month. The fall affected the shares of all public organizations. For example, Robinhood has fallen in half, and the sensational, at one time, Coinbase by more than 70 percent.
Despite the gloomy environment, Ripple is set for a positive outcome. This is because the vast majority of investors are not based in the US. Most likely, this moment will continue to remain unchanged until the issue with the commission is resolved.
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During the World Economic Forum, which was held in Davos, Brad Garlinghouse was interviewed for various economic journals. He said that the organization is working to implement the IPO immediately after the successful completion of the process in court with the SEC. Additionally, it was noted that the organizations had made great progress in litigation. This suggests that its entry into the trading floor can be realized already at the end of this year.
“As a result of the litigation with the Commission, we plan to obtain stability and guarantees for our position in the States. I think that this supervisory body will not, intends to extend the hearing even longer than it has already been implemented.”
In addition to this, he added that today the startup has undoubtedly moved to the level of active development, when its entry into the cryptocurrency market has become as real as possible. "This process will be reviewed immediately after the case is closed."
The SEC filed a lawsuit against the Ripple organization in 2020. It said that XRP, by definition, can be classified as a security class. Based on this, since 2013, without a special license, all operations were illegal. But the company does not confirm this theory and says that XRP is a typical cryptocurrency asset, like the well-known Bitcoin and Ethereum. Therefore, the securities law should not affect him.
A year ago, the head of Ripple already said similar words about entering the IPO and completing the hearing. At that moment, all market participants accepted these words as one of the ways to warm up interest in the asset.
Most likely, the organization is now taking similar actions so that during the period of forced calm, investors do not forget about the asset and the crypto winter does not come. Now XRP has lost about 40 percent of its total value in a month. The fall affected the shares of all public organizations. For example, Robinhood has fallen in half, and the sensational, at one time, Coinbase by more than 70 percent.
Despite the gloomy environment, Ripple is set for a positive outcome. This is because the vast majority of investors are not based in the US. Most likely, this moment will continue to remain unchanged until the issue with the commission is resolved.
Back