{"id":347160,"date":"2024-07-18T19:54:07","date_gmt":"2024-07-18T14:24:07","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=347160"},"modified":"2024-07-18T19:54:07","modified_gmt":"2024-07-18T14:24:07","slug":"ripple-plans-1-4b-share-buyback-amid-sec-battle-is-ipo-still-on-track-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ripple-plans-1-4b-share-buyback-amid-sec-battle-is-ipo-still-on-track-crypto-news\/","title":{"rendered":"Ripple Plans $1.4B Share Buyback Amid SEC Battle; Is IPO Still On Track? – Crypto News"},"content":{"rendered":"

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Ripple Share Buyback: The firm behind the XRP crypto has been on the crypto market enthusiasts\u2019 radar lately, amid the ongoing SEC lawsuit. Meanwhile, in the recent Fortune Brainstorm Tech 2024 discussion, the firm\u2019s CEO Brad Garlinghouse has revealed the firm\u2019s plan over a share-buyback plan, sparking market optimism. In addition, he has also shared crucial insights on the company\u2019s IPO plan.<\/p>\n

Ripple Eyes $1.4 Bln Share Buyback<\/h2>\n

Brad Garlinghouse<\/a> revealed Ripple\u2019s strategic move to repurchase $1.4 billion worth of shares from investors and employees. This decision comes at a critical time for the company, as it battles the SEC\u2019s allegations.<\/p>\n

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Notably, the buyback is seen as a sign of confidence in the firm\u2019s long-term prospects. Garlinghouse emphasized that the buyback is part of a series of tender offers, demonstrating the firm\u2019s commitment to its stakeholders.<\/p>\n

The announcement of the share buyback has sparked optimism in the market. Investors view this as a positive step, signaling the company\u2019s financial stability and growth potential. Garlinghouse\u2019s comments highlighted the importance of this move, indicating that it is a strategic decision rather than a reactionary one.<\/p>\n

Meanwhile, Ripple\u2019s decision to proceed with the buyback despite the legal challenges showcases the company\u2019s resilience. Garlinghouse\u2019s remarks underscored the firm\u2019s determination to navigate the complex regulatory landscape and continue its growth trajectory. Besides, he said that the share buyback plan is a new development that had not been publicly disclosed before.<\/p>\n

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Also Read: Standard Chartered, Animoca Brands Enter Hong Kong Stablecoin Sandbox<\/a><\/strong><\/p>\n

IPO Plans Amid Regulatory Hurdles<\/h2>\n

When questioned about Ripple\u2019s IPO plans, Brad Garlinghouse clarified the company\u2019s stance. He stated that the firm does not have imminent plans to go public, citing the current regulatory environment.<\/p>\n

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Garlinghouse pointed out that there is clarity regarding XRP\u2019s status as a non-security, following a federal judge\u2019s ruling. However, he expressed frustration over the lack of clarity for other cryptocurrencies in the U.S.<\/p>\n

Garlinghouse has also criticized the U.S. SEC, labeling them as \u201cLuddites\u201d for their anti-innovation approach to crypto regulation<\/a>. He shared the anxiety the firm faced when the U.S. government sued the company, resulting in the departure of many employees.<\/p>\n

Despite these challenges, the company has managed to thrive, with 95% of its customers and payment volume now coming from non-U.S. markets. In addition, the CEO noted that 75% of the company\u2019s hiring in the past two years has been outside the U.S.<\/p>\n

The recent comments suggest that the company views an IPO as a \u201cstep in the journey\u201d rather than an endpoint. This perspective aligns with the firm\u2019s broader strategy of expanding its global presence and adapting to the evolving regulatory landscape.<\/p>\n

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The ongoing battle with the SEC and its strategic decisions will continue to shape the company\u2019s future. The $1.4 billion share buyback demonstrates Ripple\u2019s commitment to its stakeholders and confidence in its growth prospects.<\/p>\n

Meanwhile, in a recent Bloomberg interview, he showed confidence in a win in the SEC battle<\/a>. However, while questioned about the timing, he pointed to no particular timing for the lawsuit conclusion.<\/p>\n

Also Read: Arkham Announces Bounty, N. Korea Hackers Behind $235M WazirX Hack?<\/a><\/strong><\/p>\n

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Rupam, a seasoned professional with 3 years in the financial market, has honed his skills as a meticulous research analyst and insightful journalist. He finds joy in exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor at Coingape, Rupam’s expertise goes beyond conventional boundaries. His contributions encompass breaking stories, delving into AI-related developments, providing real-time crypto market updates, and presenting insightful economic news. Rupam’s journey is marked by a passion for unraveling the intricacies of finance and delivering impactful stories that resonate with a diverse audience. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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Ripple Share Buyback: The firm behind the XRP crypto has been on the crypto market enthusiasts\u2019 radar lately, amid the ongoing SEC lawsuit. Meanwhile, in the recent Fortune Brainstorm Tech 2024 discussion, the firm\u2019s CEO Brad Garlinghouse has revealed the firm\u2019s plan over a share-buyback plan, sparking market optimism. In addition, he has also shared […]<\/p>\n","protected":false},"author":2,"featured_media":328159,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-347160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/347160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=347160"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/347160\/revisions"}],"predecessor-version":[{"id":347170,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/347160\/revisions\/347170"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/328159"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=347160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=347160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=347160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}