Considering a U.S. IPO overseas, Ripple CEO: SEC will evaluate U.S. listing once the chairman changes

Ripple CEO Brad Garlinghouse revealed the progress of the IPO at the World Economic Forum, indicating that they are currently considering conducting it outside the United States. They would only consider an IPO in the U.S. if the SEC changes its chairman. However, he also emphasized that an IPO is not Ripple's top priority.

Ripple Considers Overseas IPO

Brad Garlinghouse stated that Ripple is considering going public in other jurisdictions with clear regulations as a result of enforcement actions by the SEC that have prevented Ripple from conducting an IPO in the United States.

He said:

Trying to get the S-1 through with a hostile regulatory body in the U.S. is not fun for me. Clearly, Coinbase was able to go public, and now the SEC is suing Coinbase over their S-1 disclosures.

Note: The S-1 is a filing required by the SEC for companies looking to go public, covering financials, management team information, etc., aimed at providing transparency to investors for investment decisions.

Considerations for IPO in the U.S.: SEC Chairman Change

Brad Garlinghouse emphasized that the actions of SEC Chairman Gary Gensler are politically motivated, and under such political pressure, the SEC's actions do not serve the public interest or the long-term economic interests.

He believes that at some point, there will be a new chairman at the SEC, which would be good for the American public and Ripple would consider going public in the U.S.

IPO Not Ripple's Top Priority

Brad Garlinghouse revealed that going public is not a top priority, and Ripple will continue to evaluate it in the future.

Reuters reported earlier this month that Ripple Labs plans to buy back $285 million worth of shares from early investors. Brad Garlinghouse also confirmed this:

Our investors invested in Ripple in 2012. They've been in this investment for eleven and a half years. We want to provide liquidity, and that's one of the reasons we're doing these tender offers.

The SEC did not respond to CNBC's request for comment.

Ripple Labs: Plans to repurchase $285 million in shares, still not planning to go public in the U.S.