Ripple considered an IPO outside the US due to SEC's 'hostile' stance, no immediate plans for going public.

• CEO Brad Garlinghouse of Ripple revealed that the company considered markets beyond the U.S. for its initial public offering, citing a "hostile" regulator as the reason.
• Garlinghouse stated that the firm has temporarily suspended any plans for an IPO.
• This month, Ripple repurchased shares from its investors.
• Garlinghouse confirmed that the company has bought back $1 billion of stock to date.

Brad Garlinghouse, CEO of Ripple, revealed that the company considered markets beyond the US for its initial public offering, citing a "hostile" regulator as the reason.

Garlinghouse stated that the firm has temporarily suspended any plans for an IPO.

In 2022, Garlinghouse stated on CNBC that Ripple, the company behind the cryptocurrency, plans to consider a public listing once its ongoing lawsuit with the U.S. Securities and Exchange Commission comes to an end.

In an interview with CNBC at the World Economic Forum in Davos, Switzerland, Garlinghouse stated that Ripple has considered other jurisdictions with clear regulations to go public.

Ripple CEO stated that his company has not been publicly listed in the U.S. due to SEC's actions.

Going public in the US with a hostile regulator who has approved your S-1 doesn't sound like much fun, according to Garlinghouse.

The SEC has filed a lawsuit against Coinbase for actions that were disclosed in their S-1 filing.

An S-1 is a document submitted to the SEC before an IPO in the US, which includes details about a company's financials and the risks associated with investing in the company.

Last year, the SEC accused Coinbase of operating as an unregistered broker and exchange in the U.S.

‘Political liability’

Over the past few years, the SEC's approach to regulating the crypto industry has been criticized by Garlinghouse.

On Tuesday, he stated that Gary Gensler, the SEC Chair, is a "political liability." He believes that there will be a new SEC chair, and once that happens, his company could consider a U.S. listing.

The SEC did not immediately respond to a CNBC request for comment.

Ripple CEO stated that he is keeping the IPO "option open" and will evaluate it "as time goes on."

He stated that we will reassess, as there are new regulators at the United States SEC.

Ripple's CEO, Garlinghouse, stated that going public is not a top priority at the moment.

This month, Ripple reportedly bought back shares from its shareholders, with Garlinghouse confirming the news and stating that the company has purchased $1 billion of its stock to date.

Garlinghouse stated that shareholder liquidity is crucial to him, as Ripple has had investors who invested in the company in 2012. These investors have been part of the deal for over eleven-and-a-half years. As a result, Ripple wants to provide that liquidity, which is one of the reasons behind the tender offers.

The buyback of cryptocurrencies occurred after a successful year where they experienced a more than 150% increase in value. This has boosted confidence in some crypto firms.

This month, USDC, the stablecoin backed by Circle, filed for an initial public offering in the U.S.