Ripple Will Not Go Public After Winning SEC Case
Ripple, the U.S. blockchain company behind the cryptocurrency XRP, has decided not to launch an initial public offering (IPO) after settling its long-running legal battle with the U.S. Securities and Exchange Commission (SEC).
Ripple’s president, Monica Long, told Bloomberg that the company has no plans or timeline for an IPO. She said, “We’re in a fortunate position where we’ve been able to fund all our growth, partnerships, and projects without going public.”
This ends years of speculation, as some Ripple executives had previously suggested an IPO. The company faced a $1.3 billion lawsuit from the SEC in late 2020.
Financials and Growth
Ripple is a private company, so it doesn’t publicly report full revenue or profit. Market estimates suggest Ripple made $1.3 billion in 2024. Long didn’t confirm this figure but said the company doubled its customers last year, thanks to increased use of its Ripple USD stablecoin and clearer regulations worldwide.
New Investments
Ripple recently secured $500 million from major investors like Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace. This follows a $1 billion tender offer that valued Ripple at $40 billion. The company has also repurchased over 25% of its shares in recent years.
Ripple CEO Brad Garlinghouse announced in March that the SEC was dropping its case against the company. While he once suggested an IPO could be a “natural evolution” for Ripple, the company now says it isn’t planning one.
Other crypto companies, like Circle (USDC issuer), Bullish, and Gemini, have gone public in 2025, but Ripple will remain private for the foreseeable future.
