SBI CEO: Ripple to Go Public After the SEC Lawsuit

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SBI CEO: Ripple to Go Public After the SEC Lawsuit

The CEO of the Japanese financial giant SBI Group during an audio presentation release on their website said Ripple will be publicly listed after the SEC lawsuit.

Chris Larsen wants to Make Ripple go Public

On an earnings presentation call with Yoshitaka Kitao, CEO of Japanese financial giant SBI Group revealed that Ripple will be publicly listed, adding that co-founder Chris Larsen wants the company to move forward in that direction:”According to the current lawsuit, Ripple will make it public … Chris wants to do that.”

Brad Garlinghouse, CEO of Ripple, claimed his company would take a leadership position in the Davos IPO back in January 2020:”In the next 12 months, you will see IPOs in the crypto/blockchain space. We will not be the first or the last, but I hope we are in a leadership position. it’s a natural evolution for our company.”

However, these plans may have been postponed. Although the shares of the cryptocurrency exchange Coinbase are already trading on the Nasdaq, Ripple is currently in a violent legal battle with the SEC.

The SBI Group, Ripple’s largest outside shareholder, has long been a staunch supporter of XRP, and XRP is considered a crypto asset in Japan. A report shows that shareholders make profits for the second year in a row. Kitao also believed Ripple’s legal position in the US would not have a material impact on its global business as early as December.

Legal Battle Continues

At the same time, Ripple insisted that the US Securities and Exchange Commission issue an internal notice in a recent letter to District Court Judge Sarah Netburn.

Ripple wrote to Judge Sarah Netburn saying:”The letter improperly reargues two positions the Court rejected at the April 6, 2021 discovery conference: that SEC internal documents are categorically exempt from discovery, and that the SEC can invoke the deliberative process privilege without searching for responsive documents, asserting the privilege on a document-by-document basis, and producing a privilege log.” This issue will be discussed in another conference call scheduled for April 30th t