Ripple Focuses on Acquisitions of Blockchain Projects Over IPOs

Ripple is more interested in acquiring «other infrastructure blockchain projects» than going public, stated the company’s CEO, Brad Garlinghouse, during an interview with Bloomberg.

*“I won’t mention specific names, but at its core, Ripple is an infrastructure blockchain company. We provide our technology primarily to businesses in the financial sector. We are looking into other infrastructure blockchain companies,”* he said.

The entrepreneur expressed optimism following the conclusion of a legal dispute with the U.S. Securities and Exchange Commission (SEC), which has been ongoing since 2020. He noted that Ripple has not yet decided whether to withdraw its own complaint against the agency.

Garlinghouse mentioned that the company has spent over $150 million on legal battles and would be pleased to recover the $125 million fine imposed by the Commission. That sum currently remains in an escrow account.

He added that under the previous leadership of the SEC, the agency would likely have abandoned its pursuit, but the current administration presents a different scenario; notably, there would not have been a court case at all if not for the enforcement actions taken by former SEC Chair Gary Gensler.

As a reminder, in March, Ripple acquired a license to operate in the UAE.