Considering IPO outside the United States, Ripple CEO: The SEC will only evaluate listing in the United States after changing its chairman

Ripple CEO Brad Garlinghouse revealed the progress of the IPO at the World Economic Forum. It is currently considering conducting an IPO outside the United States. Unless the SEC changes its chairman, it will consider an IPO in the United States. However, he also emphasized that the IPO is not Ripple's top priority.

Ripple considering U.S. offshore IPO

Brad Garlinghouse said that Ripple has considered listing in other "jurisdictions with clear regulations". This is because Ripple has not IPOed in the United States due to SEC enforcement actions.

He said:

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In the United States, trying to get your S-1 listing approved by hostile regulators doesn't sound very interesting to me, and Coinbase was apparently approved and now the SEC is suing Coinbase over its S-1 filing. 1 The business described in the document.

Note: S-1 documents are documents that the SEC requires companies to submit when they go public. They cover the company's finances, management team information, etc., and are designed to provide investors with company transparency for investment decisions.

How to consider an IPO in the United States: SEC changes chairman

Brad Garlinghouse emphasized that everything SEC Chairman Gary Gensler does has political purposes, and under such political baggage, the SEC's actions are not in the public interest or in the interest of long-term economic growth.

He believes that at some point, the SEC will have a new chairman, which will be a good thing for the American public, and Ripple will also consider listing in the United States.

IPO not a priority for Ripple

Brad Garlinghouse revealed that listing is not an immediate priority and Ripple will continue to evaluate it in the future.

Reuters noted at the beginning of the month that Ripple Labs planned to repurchase $285 million worth of shares from early investors. Brad Garlinghouse also confirmed this:

Our investors first invested in Ripple in 2012. They've been involved in this deal for eleven and a half years. We want to provide liquidity, which is one of the reasons why we do these tender offers.

The SEC did not respond to CNBC's request for comment.

( Ripple Labs: Plans to repurchase US$285 million in shares, still not planning to list in the United States )