Ripple CEO Reacts as NASDAQ Congratulates Ripple’s METACO Acquisition: Is IPO Cooking?

Ripple CEO’s recent action sparks speculations of an imminent IPO among crypto enthusiasts as NASDAQ acknowledges Ripple’s latest acquisition.

Brad Garlinghouse, CEO of Ripple, recently acknowledged the possibility of an upcoming initial public offering (IPO) following the resolution of a regulatory case in the United States.

Specifically, over the weekend, Garlinghouse was captured liking a post where the renowned Wall Street brokerage platform, NASDAQ, congratulated Ripple’s acquisition of Metaco, an institutional digital asset custody, trading, and DeFi firm.

👀🚨👀🚨👀🚨👀🚨👀🚨👀🚨 Proper Party Time. pic.twitter.com/1rw1DgrCKT

— Digital Asset Investor (@digitalassetbuy) May 28, 2023

Recall that, as The Crypto Basic recently disclosed, Ripple acquired Metaco for $250 million on May 17, demonstrating its thirst for growth and the readiness to expand into the digital asset custody and tokenization scene. NASDAQ has applauded the firm’s strategic move.

Community Anticipates Ripple IPO

Considering NASDAQ’s prominence as a hub for publicly traded companies, the Ripple CEO’s recent action has sparked numerous speculations, particularly given that Ripple is a privately owned company.

In a post that has garnered the attention of multiple individuals in the crypto community, Twitter user Rene David theorized a Ripple IPO connecting various events from the past to the current development. 

David highlighted that NASDAQ was planning to launch a crypto custody solution in the third quarter of this year, and Metaco, the recently acquired firm, already offers such a service. The Twitter user concluded that Ripple would go public after succeeding in its ongoing lawsuit with the U.S. regulator. 

Why would Nasdaq do this. Nasdaq is planning on launching crypto custody by mid year or Q3. Metaco provides custody solutions. Ripple will IPO when the SEC case ends. Connect the dots 😎 pic.twitter.com/uHLnBtWmbr

— Rene David (@Jedi421) May 28, 2023

Florida-based blockchain enthusiast Digital Dirt expressed astonishment that NASDAQ is congratulating a private company on an acquisition. “Think they know there’s a new listing coming soon?” the crypto proponent speculates.

In recent years, Ripple has considered going public through an Initial Public Offering. However, due to the ongoing legal dispute between the company and the United States Securities and Exchange Commission (SEC), discussions about these plans have been overshadowed.

The recent acknowledgment by NASDAQ regarding Ripple’s latest business development could serve as a subtle endorsement for the company to consider listing on the exchange if it ultimately decides to go public.

SEC Lawsuit Could End Soon

While the crypto community anticipates a possible IPO, the Ripple CEO has recently confirmed when its multi-year legal tussle would get a favorable decision from the court following a recent landmark victory in the litigation. As reported by The Crypto Basic last week, Garlinghouse expects the suit to end in the coming weeks.