Brad Garlinghouse, Ripple’s CEO, recently chatted with Bloomberg about the company’s future, following the conclusion of their legal battle with the SEC. He covered a lot of ground, from potential IPOs to XRP’s role in a possible US crypto stockpile.
The Ripple vs. SEC Case: It’s Over (Mostly)
The long-running legal fight with the SEC is essentially over, according to Garlinghouse. The SEC dropped its appeal of the court decision stating XRP itself isn’t a security. While Ripple still has a cross-appeal, they’re now in a much stronger position. The main point of contention remaining is a $125 million escrowed fine. Ripple wants it back, arguing no investors lost money from the XRP sales in question. Garlinghouse also criticized the SEC’s approach under former Chair Gary Gensler, calling it a power grab.
XRP’s Place in a US Crypto Stockpile and Spot ETFs
Garlinghouse thinks XRP could be a big part of a new US government initiative. While the executive order establishing a Bitcoin reserve and crypto stockpile didn’t specifically mention XRP, he believes it’s a natural fit, especially considering the amount of XRP seized by law enforcement.
He’s also optimistic about spot XRP ETFs. Several applications are pending with the SEC, and he expects many to launch in the second half of the year. Interestingly, XRP-based products are seeing inflows, even as other crypto products experience outflows.
IPO or Acquisitions? The Future of Ripple
While an IPO is a possibility, it’s not Ripple’s top priority right now. They’re doing well organically and are more focused on acquisitions. Garlinghouse anticipates industry consolidation this year, particularly with the US crypto market shifting from regulatory uncertainty to potential growth. Ripple plans to be a key player in this consolidation, targeting blockchain infrastructure companies.
Stablecoins and RLUSD: Big Plans
Ripple is heavily invested in its stablecoin, RLUSD, launched late last year. It’s already exceeding internal projections and Garlinghouse aims for it to be a top-five stablecoin by year’s end. With growing stablecoin adoption and legislation in progress, he expects significant market growth.
At the time of the interview, XRP was trading at $2.44.
