… with the content. No
tags. No color styles. Ensure that the title is only in the
In the shadow of a protracted legal tempest with the Securities and Exchange Commission, the American blockchain entity known as Ripple, custodian of the XRP cryptocurrency, has chosen to forgo the path of an initial public offering, a decision as enigmatic as it is resolute. 🧠🚫
Ripple’s president, Monica Long, declared with the solemnity of a prophet, “We’re in a fortunate position where we’ve been able to be very well capitalized…” A statement so rich in irony, one might wonder if she’s quoting a corporate mantra or a dystopian novel. 🤷♂️
The company’s refusal to pursue an IPO has silenced years of speculative whispers, though one cannot help but ponder: Is this a triumph of independence or a calculated retreat? 🤔
Ripple Doesn’t Report Revenue (But We’re All Fine With That)
As a private company, Ripple dances around the topic of revenue, leaving analysts to scribble guesses in the margins of their notebooks. CBI Insights, ever the optimist, estimates 2024 revenue at $1.3 billion-a number so precise, it feels like a magician’s trick. 🎩🐇
Long, ever the enigma, declined to confirm these figures, instead boasting of doubled customers and “greater regulatory clarity.” One might ask, “Clarity for whom?” 🤷♂️
Yet, even as Ripple shuns the IPO spotlight, it has secured a $500 million injection from the financial elite-Citadel Securities, Pantera Capital, and the like. A feast for the wealthy, served with a side of “liquidity for shareholders.” 🎯💸
The company’s valuation now stands at $40 billion, a number so lofty, it makes one question whether we’re in a capitalist utopia or a surreal dream. 🌀
Ripple’s CEO, Brad Garlinghouse, once mused about an IPO as a “natural evolution,” a phrase so vague, it could describe a caterpillar’s journey to becoming a butterfly-or a company’s descent into obscurity. 🦋
CryptoMoon, ever the persistent journalist, reached out for comments but was met with silence, as if the company had vanished into a black hole of corporate discretion. 🌑
While Ripple plays coy, its rivals-Circle, Bullish, Gemini-have embraced the IPO stage, proving that sometimes, the boldest move is to leap into the spotlight. 🎭