- Brad Garlinghouse said that Ripple is in a āstrong financial positionā and that a Ripple IPO has been a āback burner topicā
- Garlinghouse said that Gary Genslerās ādays are numberedā as the SEC Chair
- The CEO believes the market headwinds are beginning to ease, bringing more capital into the industry
Rippleās CEO has said an IPO isnāt a priority for the company, partly because of its challenges with the US Securities and Exchange Commission (SEC).
Speaking at the Ripple Swell Conference, Brad Garlinghouse spoke about XRPās future, the SEC, crypto regulation, Rippleās new RLUSD stablecoin, and XRP exchange-traded fund (ETF) filings.
On the topic of an IPO, Garlinghouse said āan IPO has not been a high priority for us and part of that is because the SEC is not our friend.ā
He added that for a company to issue an IPO, itās because they want to raise capital. Garlinghouse stated that Ripple is in a āstrong financial positionā that has seen them investing in different crypto projects.
āWe have a couple of dynamics here with Ripple,ā Garlinghouse said. āOne is we have a hostile SEC, hostile US environment, and we have a company that doesnāt need to go raise capital. So itās just been a back burner topic.ā
Notably, he didnāt knock down the possibility of an IPO in the future.
Headwinds are easing
Touching on the SEC, Garlinghouse said that the agency is āacting outside of the law,ā calling them a ārogue agencyā when it comes to XRP. The CEO spoke about how despite a ruling that deemed XRP wasnāt a security, the SEC is still saying that it is. In his words, what the agency is doing āis not ethical behavior.ā
Despite the hurdles that Ripple faces with the SEC, Garlinghouse mentioned that Gary Genslerās days āare numberedā as the SEC Chair, and that eventually regulatory clarity will come to the industry.
Garlinghouse also spoke about the RLUSD stablecoin, noting that the company has been using stablecoins, such as USDC and Tether, in their payment flows for years. He highlighted that their stablecoin would bring more liquidity to the XRP ledger, and that they aim to replace using USDC and Tether with RLUSD.
Looking to 2025, Garlinghouse believes that the headwinds that have affected the market ā FTX, the banking crisis, and even Senator Elizabeth Warren saying crypto is bad ā will start to ease bringing with it more capital into the industry.