- Ripple posts a job vacancy indicating plans for a public company listing.
- Brad Garlinghouse stated that Ripple would explore an IPO post-SEC lawsuit.
- The SEC vs. Ripple lawsuit is still ongoing.
In the long-running legal battle between the Securities Exchange Commission (SEC) and Ripple, Judge Torres dealt a blow to the agency in July after ruling that XRP sales to the public do not constitute a securities offering. The verdict was a major victory for Ripple, who had long argued that the SEC was on the wrong side of the law.
As far back as May 2022, Ripple CEO Brad Garlinghouse revealed that the company intended to explore an initial public offering (IPO) once the SEC lawsuit had concluded. Fast forward to now, and despite the lawsuit continuing, a recent job listing suggests Ripple is considering life after the SEC lawsuit as a public company.
Ripple Job Posting
Ripple recently posted a job listing for the “Shareholder Communications Senior Manager” position based in London, New York, or Florida, suggesting that the company is gearing up to go public.
The role involves developing relationships with analysts, shareholders, and investors, with key responsibilities including creating investor materials, managing shareholder communications, and planning events to engage the investor community.
Sponsored
“In this role, you’ll be responsible for the communications and relationship management strategy/execution for key groups of existing and prospective investors, current shareholders and financial analysts,” read the Ripple job posting.
Further indicative of an upcoming IPO, the listing sought an individual with investor relations experience and knowledge of financial markets. This extends to managing communications for “liquidity events and other high-impact moments.”
Although there has been no official IPO announcement from Ripple, the job posting strongly suggests that the company is looking to capitalize on the growing investor appetite for crypto firms, similar to Coinbase’s public offering over two and a half years ago.
Coinbase’s IPO
Coinbase made history as the first major cryptocurrency firm to publically debut on the Nasdaq in April 2021. The event was hailed as a major milestone for digital assets, lending credibility and maturity to an industry often shunned by mainstream investors.
COIN closed its first trading session at $328.28 per share, valuing the company just shy of $86 billion. However, since then, Coinbase stock has plummeted in value, hitting a low of $33.26 in January, which equates to a 90% drawdown from its first day of stock trading.
Although COIN has since rallied as 2023 has gone on, the stock’s stuttering performance is a reminder that the stock market can be just as volatile as the crypto market.
On the Flipside
- Crypto firms listed on the stock market must deal with both the fluctuations of their shares and the volatility of crypto tokens.
- The SEC vs. Ripple case is scheduled for trial on April 23, 2024, indicating that an IPO won’t happen soon.
Why This Matters
Following in the footsteps of Coinbase, a Ripple IPO would underscore the blockchain industry’s progress in legitimizing itself. What was once an obscure digital experiment looks to be pressing the ranks of public companies.
Sponsored
Learn more about the history between Ripple and its co-founder Jed McCaleb here:
Jed McCaleb: Why Does Ripple Labs Despise the XRP Co-Founder?
Find out why the community is cautious about BlackRock’s interest in Bitcoin here:
Bitcoin ETF Excitement Questioned Following Fake News Report
