Good News for Ripple (XRP) Months Before the SEC Trial: Details

TL;DR

• Ripple is recruiting for key positions globally, including in London, Bangalore, and Toronto, continuing its expansion efforts.
• Its previous hires sparked speculation about a possible IPO, but the company’s lawsuit with the SEC seems to be a priority.

The American fintech company Ripple announced on X (Twitter) that it is looking to expand its global team. The open roles include a Senior Product Manager, DeFi (London), Senior Software Engineer (Bangalore), and Senior Software Engineer (Toronto).

The firm launched another hiring spree in September last year, aiming to onboard 55 people in fields like Corporate Development, Engineering, Business Development, Finance, Global Operations, Information Technology, Legal, Marketing, and others.

Shortly after, it started looking for a Shareholder Communications Senior Manager, which prompted some X users to speculate that this could be the first step before filing for an initial public offering (IPO). CEO Brad Garlinghouse said earlier this month that taking the company public is not a top priority at the moment. 

Ripple’s latest expansion effort comes less than three months before the trial against the United States Securities and Exchange Commission (SEC).

After suffering three partial court losses throughout 2023, the regulator is seemingly the underdog. The first one occurred in July when Judge Analisa Torres ruled that Ripple’s programmatic sales to secondary trading platforms did not constitute offers of investment contracts.

The magistrates also dismissed the SEC’s wish to appeal the decision, whereas Brad Garlinghouse and Executive Chairman Chris Larsen were cleared of all accusations brought by the agency.

A favorable outcome of the lawsuit for Ripple might increase investor confidence, potentially driving up XRP’s price and positively influencing the overall crypto sector. On the contrary, an SEC victory could lead to the implementation of stringent rules and a possible market downturn.