The enigmatic blockchain entity, Ripple, has declared its disdain for the initial public offering, a decision that has left the crypto world in a state of bemused bewilderment.
While the rest of the cryptocurrency realm dances to the tune of public markets, this behemoth of a company, with its $40 billion valuation, chooses to remain cloaked in secrecy, much like a Russian nobleman in a snowstorm.
The Enigma of Ripple’s Private Pursuits
At the Swell conference in New York, where the air was thick with the scent of ambition and the clink of champagne flutes, Ripple’s president, Monica Long, reaffirmed the company’s stance with the gravitas of a prophet declaring the end times.
“We do not have an IPO timeline. No plan, no timeline,” Long declared, as if reciting the Ten Commandments to a congregation of skeptics.
She elucidated that Ripple, in its current state, enjoys a “fortunate” position, akin to a sultan with a treasury full of gold, allowing it to expand its empire through organic growth and strategic alliances without the need for the public’s scrutiny.
“We are not focused on an IPO right now. We have the balance sheet, the liquidity to be growing and making moves on M&A and other big strategic partnerships,” Long proclaimed, as if she were a wizard conjuring wealth from thin air.
Ripple has invested around $4 billion in strategic acquisitions and mergers, a sum that would make even the most jaded investor blush. Over the past two years, the company has completed six major deals, each more audacious than the last.
The largest was the $1.25 billion acquisition of Hidden Road, now rebranded as Ripple Prime. Other significant transactions include the $1 billion purchase of GTreasury, a $200 million acquisition of Rail, and the recent takeover of Palisade, a digital asset custody platform. One might say Ripple is buying its way into the future with the vigor of a man trying to outrun a tornado.
Meanwhile, Ripple’s decision to remain private comes amid a $500 million funding round led by Fortress Investment Group, Citadel Securities, and Pantera Capital. The investment values Ripple at $40 billion, a figure that could make even the most stoic investor weep with joy-or despair.
Nonetheless, the president emphasized that Ripple did not need to raise additional capital. The deal was driven by strong interest from institutional investors who wanted to acquire a stake in the company, as if they were bidding for a rare artifact at an auction.
It is worth noting that Ripple has not always dismissed the idea of going public. The company previously sparked IPO buzz in 2023, but legal challenges prompted it to put this on hold in 2024. CEO Brad Garlinghouse even considered the possibility of listing outside the US at the time, but shelved these plans. Now, the company’s latest position suggests that public listing options are completely off the table, much to the chagrin of those hoping for a spectacle.
The Crypto IPO Wave: A Symphony of Ambition
While an IPO is not currently on Ripple’s agenda, President Long expressed support for other firms taking this route, as if she were a benevolent monarch granting permission to her subjects.
“We are really pleased to see crypto companies going public, that is great for our overall industry continuing to mature,” Long said, her voice dripping with the sacrosanctity of a religious leader.
Growing institutional interest and a more favorable regulatory environment have driven a surge in IPO plans among crypto companies this year. For instance, stablecoin issuer Circle completed its IPO earlier this year, followed by Bullish, Gemini, and blockchain lender Figure Technology. It’s as if the crypto world is staging a grand masquerade ball, with each company vying for the spotlight.
Custody provider BitGo has filed with the SEC, while Grayscale Investments has also submitted a draft registration for its shares. OKX and CoinShares are also exploring similar plans. Crypto exchange Kraken is targeting a 2026 public launch after recently raising $500 million. One can only imagine the chaos that will ensue when these titans step into the public eye, armed with their share certificates and a thirst for glory.
Read More
- The X-Files’ Secret Hannibal Lecter Connection Led to 1 of the Show’s Scariest Monsters Ever
- Clayface DCU Movie Gets Exciting Update From Star
- Is The White Lotus Breaking Up With Four Seasons?
- Yakuza: Like a Dragon joins the PlayStation Plus Game Catalog next week on October 21
- Dad breaks silence over viral Phillies confrontation with woman over baseball
- SD Gundam G Generation Eternal global revenues have surpassed $200 million
- Rockstar Fans Pay Tribute To The Late D’Angelo, The Artist Behind RDR2’s Best Song
- Fan project Bully Online brings multiplayer to the classic Rockstar game
- New World: Aeternum Is Ending New Content After Season 10
- Elizabeth Olsen Wants to Play Scarlet Witch Opposite This MCU Star
2025-11-06 16:57