Ripple won’t pursue an IPO after resolving its SEC case despite record growth, major new investors and increasing industry momentum for public listings.
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Ripple, the US blockchain company behind the XRP cryptocurrency, will not pursue an initial public offering following the conclusion of its years-long legal battle with the Securities and Exchange Commission.
Ripple president Monica Long said the company has no plans or timeline for an IPO, to a Bloomberg report on Wednesday.
“We’re in a fortunate position where we’ve been able to be very well capitalized and fund all of our organic growth, inorganic growth, strategic partnerships, anything we want to do,“ Long said.
Ripple’s decision to forgo an IPO ends years of speculation, after . The company was hit with a in late 2020.
As a private company, Ripple doesn’t publish full annual profit or revenue. to estimations by the market intelligence platform CBI Insights, Ripple’s 2024 revenue was $1.3 billion.
Long declined to share 2024 revenue in the report but said the company doubled its customers, driven by Ripple USD () stablecoin adoption and greater regulatory clarity globally.
Long’s remarks came as Ripple announced a from high-profile institutional investors, including Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard and Marshall Wace.
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The raise follows Ripple’s “strongest year to date” and a $1 billion tender offer, valuing the company at $40 billion.
“As Ripple continues its record year of growth, providing liquidity for shareholders and employees remains a priority,” Ripple in the $500 million raise announcement, adding that it has repurchased more than 25% of its outstanding shares in recent years.
Ripple CEO Brad Garlinghouse announced that the against the company in March. He previously in 2020, calling it a “natural evolution” for Ripple.
Cointelegraph approached Ripple for comment regarding its IPO position, but had not received a response by the time of publication.
Though Ripple isn’t eyeing an IPO soon, other major crypto firms, including USDC () issuer Circle, Bullish and .
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