Recent rumors in the crypto community have sparked interest in the possibility of Ripple considering an initial public offering (IPO). However, it seems that another major player in the crypto space, Circle, may be looking to make a public debut in 2024.
Speculation surrounding Ripple’s potential IPO has somewhat waned as reports of USDC stablecoin issuer Circle planning to go public have taken center stage. According to a report by Bloomberg on November 7, 2023, Circle is allegedly in discussions with its advisors about filing for an IPO in 2024. Despite these rumors gaining traction, Circle has not publicly confirmed or denied the reports.
In July 2021, Circle had initially planned to go public through a blank-check merger deal with a value of $4.5 billion. However, this plan fell through as the U.S. Securities and Exchange Commission (SEC) did not provide approval, leading to Circle and Concord Acquisition Corp announcing the termination of their proposed business affiliation. This setback did not deter Circle, as reports now suggest that the company is looking towards a potential IPO in 2024.
Amidst the buzz surrounding Circle, whispers of Ripple’s IPO continue to circulate within the community. Speculations suggest that Ripple may file for an IPO either before the end of the year or in 2024. While this has piqued the interest of the XRP community, many are curious about the potential impact an IPO would have on the long-term value of XRP.
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Some members of the community are optimistic about the impact of an IPO on XRP, while others remain skeptical. Crypto investor Mason Versluis believes that an IPO should increase interest in XRP but acknowledges the potential for negative implications as well. Meanwhile, other community members have expressed doubts about Ripple’s IPO plans, citing ongoing legal issues with the SEC as a deterrent to a potential public debut.
Founder of Dizercapital, Yassin Mobarak, directly addressed the speculation, stating that he does not believe Ripple will go public in the near future due to the ongoing lawsuit with the SEC. He also shared insight from a conversation with Ripple’s Brad Garlinghouse, who indicated that the SEC must approve Ripple’s S-1 before the company can go public, an approval that is unlikely to happen while the legal dispute is ongoing.
As the crypto community eagerly awaits developments from both Ripple and Circle, the potential for IPOs from these major players has captivated the attention of investors and enthusiasts alike. Whether these IPO rumors materialize into concrete plans remains to be seen, but the prospect of these crypto giants going public in 2024 has undoubtedly sparked significant interest and anticipation within the industry.
With the ever-evolving landscape of the crypto market, the prospect of IPOs from leading companies like Ripple and Circle signifies a potentially transformative moment for the industry. As the community eagerly anticipates the unfolding of these developments, the impact of potential IPOs on the broader market and the long-term implications for investors and stakeholders remain a subject of great interest and speculation.
